Balyasny Shuts Klavdianos’ Trades After $100 Million Loss (1)

Balyasny Asset Management has liquidated a trading book led by George Klavdianos after his team suffered losses in excess of $100 million.

Klavdianos, who ran an event-driven credit strategy that Balyasny set up three years ago, has left the firm along with his team, according to people with knowledge of the matter. The firm began to liquidate the trades in September and the process is almost finished, the people said, asking not to be identified because the details are private.

The strategy, which ran about 1% of Balyasny’s gross assets, suffered losses in long and short bets in Europe, as ...