Adrien Chicot Launched Systematic Trading Firm Borel Capital
The newly established investment firm has opened a recruitment program for junior quantitative researchers.
Updated on Oct. 13, 2026 in Stock Markets
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Former Andurand Capital Management researcher Adrien Chicot has founded Borel Capital to focus on systematic trading. The firm is currently seeking ten quantitative research interns for a structured strategy development program.
Why it matters
Borel Capital intends to offer junior quantitative researchers a direct share of generated profit and loss. This structure aims to identify and cultivate new talent by providing interns with capital allocations and performance-linked compensation.
The firm is recruiting 10 quantitative research interns who will undergo a 6-month development period. Successful participants are eligible for capital allocations and performance-based compensation.
The players
Adrien Chicot
Adrien Chicot is the founder of Borel Capital and a former quantitative researcher at Andurand Capital Management.
Borel Capital
Borel Capital is a newly formed systematic trading firm that utilizes proprietary capital to execute investment strategies.
The details
Interns with backgrounds in mathematics, physics, computer science, or engineering will develop strategies tested through paper trading and unseen data. Borel Capital operates using proprietary capital and maintains a recruitment requirement for candidates to hold work rights within the European Union.
Timeline
October 13, 2026: The recruitment program and firm launch were formally announced.
Market Dynamics
The firm's establishment reflects the broader industry trend of boutique quantitative shops operating with proprietary capital. This lean model allows small teams to compete against larger institutional players by focusing on highly specialized, backtested trading strategies.
While the firm currently operates with proprietary capital, its performance-linked compensation model for interns marks a shift in how talent is incentivized in small-scale quant funds. Prospective analysts or industry observers should monitor these boutique developments for potential impacts on broader quantitative trading methodologies.
The takeaway
Borel Capital represents a niche approach to asset management that prioritizes junior development through profit-sharing incentives. Candidates in technical fields should prepare for rigorous testing cycles involving backtesting and performance evaluation against unseen data.
What happens next
Borel Capital plans to launch a new recruitment cohort every six months, with potential future expansion of geographic eligibility beyond the European Union.
Further reading
For more on shifts in the investment landscape, visit the Stock Markets section.
Source note: This article includes information reported by Hedgeweek.
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