A team of four that left Stark Investments in June amid a staff exodus at the US hedge fund will shortly join a Chicago-based rival, Financial News has learnt.

Ashok Bhatia will join Balyasny Asset Management to build out its global macro strategy, according to a letter to investors from managing partner Dimitry Balyasny that was obtained by Financial News. Bhatia was previously a partner and co-head of macro, fixed income, emerging markets and commodities investing at Stark.