(Bloomberg) -- Eisler Capital has hired former Goldman Sachs Group Inc. partner Alain Marcus to recruit traders for the hedge fund as it transforms itself into a multi-strategy investment firm.

Marcus will handle talent acquisition and development at London-based Eisler in the newly created role, according to an internal memo seen by Bloomberg. “These two functions are critical for building a market leading organization,” the firm said in the memo sent by founder Edward Eisler.

A spokesman for Eisler Capital, which manages about $3.5 billion and returned about 15% in its multi-strategy hedge fund last year, declined to comment.

Multi-strategy hedge funds rely on groups of traders to make money and manage assets. They are engaged in a fierce battle to hire trading talent and increasingly creating internal roles to boost their ability to poach traders from rivals and retain the best performers.

In a pivot to the approach that’s increasingly popular with investors, Eisler decided to wind down its first hedge fund and abandoned plans to start another fund to focus entirely on its multi-strategy money pool. 

Last year, multi-strategy investment firms attracted billions of dollars in inflows when the hedge fund industry overall saw outflows. That, combined with higher fees than peers, is boosting the funds’ ability to pay bigger salaries to traders.

Marcus, who is based in New York, has previously worked as a managing director at Morgan Stanley and as a partner at Goldman Sachs where he managed sales and distribution businesses, according to the memo. Most recently, he ran day-to-day operations of Black Creek Mexico, a private equity real estate firm.

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