2 veterans at $5 billion quant hedge fund PDT Partners have left
Two long-standing staffers at $5 billion quant hedge fund PDT Partners have left, according to people familiar with the matter. They are:
- Daniel Pugh, who headed trading operations and worked at PDT for ten years, and;
- Michael Shpigelmacher, a senior investment researcher who worked at the fund for six years. According to his LinkedIn page, Shpigelmacher "created and managed proprietary investment strategies for a multi-billion equity portfolio, combining cutting edge AI research with innovative economic and financial models."
Their destinations are not known. A spokesman for PDT Partners declined to comment.
PDT was founded by Pete Muller, a quirky math whiz known for his love of music.
After a long sting at Morgan Stanley in the 1990s, where he created the PDT unit, he needed a break and went on sabbatical, traveling the world and playing music in the New York subway, he previously told Business Insider. Music has played a major role in balancing his career ever since.
He eventually went back to PDT and spun out the unit in 2012.
We covered a fundraising concert in 2016 during which Muller sang about a divorced hedge fund billionaire named Ken. He also went on a music tour last year.