Steven Binetter

Steven Binetter is a highly experienced finance professional based in the New York region, with close to 20 years of expertise in public equities, private markets, and hedge fund management. Known for his analytical rigor and long-term approach to performance, he has spent his career building and leading investment teams that balance deep research discipline with innovative strategy design.

From 2015 to 2025, Binetter played a major leadership role at Marshall Wace, a globally recognized long/short equity hedge fund managing about $70 billion in assets. During his decade at the firm, he served as a Portfolio Manager before being named a Partner in 2023. He also held a seat on the firm’s U.S. Management Committee, where he was the only investment team representative.

In that capacity, he guided investment direction, portfolio oversight, and cross-market coordination, helping to drive consistent results through changing market cycles.When he joined Marshall Wace, the firm oversaw roughly $15 billion in total assets and had around 25 U.S. employees. Shortly after, he founded the Global Industrials strategy, internally known as the Eureka Fund. The strategy began with about $200 million in gross market value and grew to $1.5 billion within a year. Between 2017 and 2025, it operated at scale, managing between $3 billion and $7 billion. Steve Binetter built a seven-member investment team that remained remarkably stable—only two members departed in ten years—while maintaining about 75 percent U.S. and 25 percent international exposure.

His expertise spans a diverse set of sectors, including industrials, business services, technology, media and telecommunications, consumer markets, non-bank financials, and life-science tools. He integrated systematic and quantamental models alongside traditional research to enhance risk management and alpha generation. In addition, he led the firm’s quarterly investment sessions in New York, bringing together teams to coordinate portfolio construction and research alignment.

Between 2021 and 2025, Binetter also co-managed the MW XO Digital Finance Fund, a private investment vehicle managing approximately $450 million. He was instrumental in launching and scaling the fund, sourcing and managing more than half of its capital. The fund invested in companies such as Circle, Human Interest, Lukka, TRM Labs, and Accelerant, reflecting his growing focus on financial technology—specifically firms developing data infrastructure, compliance tools, and insurance solutions for institutional clients.

Before joining Marshall Wace, Steve Binetter spent eight years at Eminence Capital, a $7 billion long/short equity hedge fund in New York. He joined as a Research Associate in 2007, rose to Analyst in 2009, and became a Portfolio Manager in 2013. Reporting directly to the Chief Investment Officer, he managed as many as 25 positions at once, overseeing both trading and position sizing. His work helped identify core portfolio holdings, including individual long exposures up to $300 million and shorts up to $100 million. His research extended across industrials, TMT, and consumer sectors, with exposure to markets throughout Western Europe, South America, and Asia.

Binetter’s career began at UBS Investment Bank in New York, where he served as an Analyst in the Mergers and Acquisitions Group. There, he focused on valuation modeling, corporate finance analysis, and transaction execution across both public and private deals.

He holds a Bachelor of Commerce (with Merit) from the University of New South Wales (UNSW), where he majored in Finance and completed over three years toward a Bachelor of Laws. While at UNSW, he represented the university’s soccer team, which won the U19 NSW State League Division 2 Championship in 2003. His academic development also included advanced studies at the Wharton School of the University of Pennsylvania—covering Corporate Valuation, Mergers & Acquisitions, Negotiations, and Advanced Corporate Finance—and at New York University’s Stern School of Business, where he focused on Real Estate Finance and Investment Banking.

A graduate of Sydney Grammar School, Binetter earned the Premier of NSW Award for All-Round Excellence in 2002, achieved Full School Colours in soccer, and won the school Eisteddfod for trombone and euphonium performance.

Beyond finance, Steven Binetter is a lifelong learner and sports enthusiast. He enjoys spending time with family, watching English Premier League football, playing backgammon, swimming, and exploring private investment opportunities. He has long been part of the New York community, residing in both Mamaroneck and New York City.

Sources:
‍https://www.ainvest.com/news/marshall-wace-scores-47-gain-circle-ipo-2506/‍
‍https://www.bloomberg.com/news/articles/2025-10-08/citadel-bound-marshall-wace-trader-seeks-slice-of-crypto-jackpot
‍https://www.bloomberg.com/news/articles/2025-06-17/marshall-wace-books-700-million-gain-on-circle-s-hot-ipo
‍https://ffnews.com/people/steven-binetter/
‍https://ffnews.com/newsarticle/lukka-exceeds-billion-dollar-milestone-in-latest-fundraise/
‍https://www.businesswire.com/news/home/20220113005814/en/Lukka-Exceeds-Billion-Dollar-Milestone-in-Latest-Fundraise