When Harlan Korenvaes founded HBK Capital Management in 1991, the multistrategy hedge fund firm was among the few, and the best, in the field. Within a decade, however, HBK lost its prominence as the market matured and became overrun by incoming hedge fund startups. Ever since, the Dallas, Texas–based firm’s performance has followed a rolling trajectory. Lately, that trajectory is on an upswing. Assets have grown from $5.13 billion at the end of 2010 to $9.44 billion in December 2015. And the firm garnered an A grade on Alpha’s 2015 Hedge Fund Report Card. Investors were particularly pleased with HBK’s independent oversight and risk management...
