The Baha Mar resort in Nassau was full of quants, engineers, and data scientists the week before Christmas.
WorldQuant, the $9 billion systematic investor that spun out of Millennium and still manages money for Izzy Englander's firm, took over the Bahamas vacation spot to celebrate its 15th anniversary, according to a source close to the firm. Billionaire founder Igor Tulchinsky personally covered the costs of the travel and lodging for the firm's 1,000-person-plus workforce, who came from 23 different offices worldwide, the source noted.
The weeklong sojourn for the Connecticut-based asset manager was not all celebratory. Attendees heard speakers such as Arnold Schwarzenegger, author Malcolm Gladwell, and retired US Army Gen. Stan McChrystal speak on different topics, including the future of technology and history. One session featured Boston Dynamics founder Marc Raibert speaking on robotics and artificial intelligence with the firm's robot dog, Spot, next to him.
And there was some competition. Chess champion Magnus Carlsen came to play with teams from 12 different countries. The chess matches were part of an international "quant" tournament that has a $100,000 grand prize.
But for those at WorldQuant looking forward to relaxing, the resort has plenty of options. The Baha Mar is a collection of three hotels — the largest of which is the 1,800-room Grand Hyatt, where rooms are going for more than $500 a night currently. The ocean-front resort has a casino, water park, affiliated golf course, and "daily parade" of flamingos.
Entertainment during the week also included a performance from David Blaine, the well-known illusionist.
Hedge funds and their billionaire founders are known for throwing blowout parties for big milestones.
Citadel founder Ken Griffin paid for 10,000 employees and family members to go to Disney World at the end of 2022 as a belated celebration of the firm's 30-year anniversary. When the firm celebrated its 25th anniversary, Griffin paid for pop singer Katy Perry to perform for employees. Renaissance Technologies founder Jim Simons has covered the tab for his entire company and family to travel to Bermuda several times, and funds such as Viking Global and Tiger Global have held parties with Cirque du Soleil-style performers and animal handlers, respectively.
