Paloma Partners, the legendary hedge fund founded by billionaire Donald Sussman, is reinventing itself after years of turbulence. Following executive exits and investor redemptions, the $1.5 billion firm has installed Ravi Singh as CEO and Mike DeAddio as COO, aiming to diversify beyond systematic trading.
Paloma Partners Reinventing Itself
Paloma returned about 9% in 2025 and is now fundraising while expanding into long‑short equity, credit, and volatility strategies. Singh emphasizes a “high‑touch” talent model, recruiting established portfolio managers with flexible terms. With rebuilt infrastructure and a pipeline of investors, Paloma believes it can scale to $4 billion while maintaining its reputation as a founder‑friendly capital partner.
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