Citadel Strategic Equity Investments (Nabeel Bhanji)
Have been getting inbounds from HHs for this team. AFAIK it is led by NB who manages a few yards himself, and has multiple event PMs under him. Would appreciate any additional insight into:
- Recent Performance
- Crudely put, why was this team assembled? What is Citadel pushing with this new strategy?
- Simply just another equities business for additional corporate access or are they trying to build something new and differentiated here? If so, what is the sales pitch (they paid big $$ for NB so must be something big in the plans right)?
- Duration / strategy -> assume they are no longer pursuing activism so does that mean the focus of this team is just generic event (risk arb / spins / special sits credit)?
- With more duration, can they also tap into deep value type situations (e.g. JPX)?
- AuM and economics: does NB simply run a book himself and other PMs also function as independent pods in this broader strategy, or is it a SPM / sub-PM framework?
- Desirability of analyst seat
- Any additional colour that I have missed out
Appreciate the time and understand that this is a very new team with few people involved so hard for outsiders to have a strong view; any and all insights welcome.
bump
2 parts to his mandate:
Event driven/M&A arb
Longer duration equity book (I.e more concentrated and longer term than a regular book in the international equities franchise etc)
Appreciate this. For the longer duration equity book, do you know if it is managed by NB himself or other PMs involved too? Find this side of the mandate very interesting. Thanks again
Afaik it’s NB…looking for PE profiles for this book.
looks very interesting - seems like they hired from bunch of tier 1 PE shops (H&F, etc.)
Know of a few PMs in this team but no idea re. analysts. Have you heard this from friends? Quite surprised they're picking up PE guys
Assuming it’s because NB is more used to working with ex MFPE guys
which recruiters are they using? have they already made offers? do you guys know how big the team is that they're recruiting for?
Bump
also curious
Citadel hands international equities leadership to Elliott veteran Nabeel Bhanji (FT)
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