Macro RV Portfolio Manager (IRS/Vol/Inflation)

Role Overview

We have partnered with a fast-growing macro hedge fund looking to make multiple Portfolio Manager hires as part of a strategic expansion of its investment platform. The firm has built a strong foundation in fixed income relative value (RV) and is now looking to onboard PM talent in USD and EUR swaps, as well as adjacent liquid macro RV strategies.

This is an opportunity to join an elite team where each hire is high-conviction and high-impact - not one of dozens of pods, but a firm where collaboration, discipline, and specialist edge drive capital allocation decisions.

Key Responsibilities

• Run and scale a macro relative value strategy, with a focus on USD and/or EUR swaps, interest rate curves, and basis RV.
• Deploy firm capital with discipline, operating within a defined risk framework targeting high Sharpe, low drawdown returns.
• Build around core specialization: Traders are expected to lead with deep expertise in one market and thoughtfully expand into adjacent areas as performance justifies.
• Avoid strategy overlap: Each PM runs an orthogonal book. There will not be multiple traders running similar risk across the platform.
• Partner directly with senior leadership, including the founder and CRO, for risk oversight and capital allocation.
• Actively contribute to firm culture: This is a lean, collaborative, high-touch environment where every hire shapes the business.

Requirements & Qualifications

• Strategy Expertise:
• Deep experience running a macro RV book, especially in USD/EUR swaps, curve trades, basis, and related fixed income strategies.
• Exposure to inflation, volatility, or cross-currency RV is additive.
• Performance Track Record:
• Minimum historical P&L of $15–25mm+
• Sharpe of 2–4+ preferred for RV strategies
• Track record of consistency: e.g., 6 out of 7 up years, low drawdowns
• Risk Discipline:
• Strong understanding of risk frameworks and capital efficiency
• Comfortable starting with $100–250mm and scaling based on performance
• Proven ability to size up/down based on market liquidity and opportunity
• Mindset & Cultural Fit:
• Specialist-first mentality with low tolerance for style drift
• Collaborative and entrepreneurial - not suited to siloed "barcode" PMs
• Humble, intellectually curious, and motivated by building something with longevity
• Communication Skills:
• Must be able to articulate trade process, edge, and risk clearly to internal stakeholders.