Meridiem Capital Rebounds to $1.6B in Assets With Schonfeld Backing

Khalid Malik’s Meridiem Capital Partners has rebuilt its assets under management to approximately $1.6 billion, marking a significant recovery after losing a major investor more than two years ago, Bloomberg reported Friday. The stocks-focused hedge fund is now on track to potentially reach $2 billion in assets by the end of the year.

Schonfeld Investment Fuels Growth

The rebound was driven by backing from Schonfeld Strategic Advisors, which became Meridiem's largest backer after Millennium Management withdrew $1.5 billion in funding. According to the report, Schonfeld increased its investment in Meridiem this year, providing the capital needed to boost the fund's assets.

Meridiem's performance has also been strong, with the fund generating returns of 13.6% in the first half of the year. This comeback represents a rare case of a hedge fund successfully securing new, substantial backing after experiencing a significant client withdrawal.

Strategic Hire to Expand Investor Base

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To support its growth trajectory, Meridiem has hired John Golden as its new president. Golden was formerly a partner and co-founder at Spicewood Partners, an energy-focused private equity firm.

In his new role, Golden will be responsible for raising capital, overseeing investor relations, and leading business development. His appointment signals the firm's strategic focus on diversifying and expanding its investor base beyond its primary backers.

Context for Investors

The recovery highlights a persistent trend in the hedge fund industry, where large multi-strategy platforms like Schonfeld continue to allocate capital to external managers and trading teams to generate returns. For Meridiem, securing a new anchor investor after a major redemption demonstrates resilience and a renewed appeal to institutional allocators.