A large quantitative hedge fund that has expanded aggressively in recent years appears to be reducing its headcount slightly. The firm manages tens of billions of dollars in assets and employs close to 2,000 people, the majority of whom work in technology roles. After years of steady hiring, recent reports suggest that some employees have been let go.

According to multiple sources, the departures have mainly occurred in Singapore, including among staff described as strong performers. The exits were reportedly sudden, with little or no explanation given at the time. The firm has not publicly commented on the situation, and no official details have been released.

Staff turnover is not unusual in the hedge fund industry, especially within technology and quantitative teams where performance standards are high and roles evolve quickly. Other funds have made similar adjustments in recent months, reflecting the flexible and competitive nature of the sector.

What makes this situation notable is the scale of the firm’s recent growth. Just two years ago, its reported headcount was significantly lower, and it has since nearly tripled in size. The firm also opened a new office in Singapore last year as part of its expansion strategy.

The apparent reduction may therefore reflect a period of consolidation after rapid hiring, rather than a broader strategic shift. It could also point to practical constraints, such as team structure or capacity limits, as the firm reassesses its staffing needs following a phase of rapid expansion.