Key Facts
- ✓ Avala Global, a $2 billion hedge fund founded by Divya Nettimi, achieved a 22.1% return for its investors in 2025.
- ✓ The fund has now delivered more than 20% returns in each of its three full years of trading since its launch in late 2022.
- ✓ Three investment analysts—Jordan Straff, Nadine Lin, and Michael Wang—left the firm in the second half of 2025.
- ✓ The firm's Chief Operating Officer, David Angstreich, and top fundraiser, Rebecca Chia, are both scheduled to depart in 2026.
- ✓ Avala has hired new talent to fill the gaps, including former Viking Global general counsel Andrew Genser and analysts from Clayton Dubilier & Rice.
Quick Summary
Avala Global, the $2 billion hedge fund launched by former Viking Global star trader Divya Nettimi, delivered another year of strong returns in 2025. The firm posted a 22.1% gain for its investors, marking its third consecutive year of over 20% performance.
However, behind the impressive numbers, the fund is experiencing a significant and ongoing personnel churn. Despite the success, Avala has continued to lose key staff members, including senior executives and investment analysts, raising questions about the stability of its team.
Performance Amidst Turnover
Avala Global's performance in 2025 placed it ahead of both the S&P 500 and Nettimi's former employer, Viking Global. The fund's success was driven by long-term holdings in specific stocks, according to the firm's year-end letter to investors.
The letter highlighted the team's "depth and experience" but notably made no mention of the recent or upcoming staff departures. It also expressed confidence in the firm's trajectory, stating, "We believe we have laid a strong foundation for the next phase of our growth."
Key drivers of the 2025 performance included:
- Seagate Technology - A data-storage company
- Siemens Energy - A German power company
- Amer Sports - A Finnish sporting goods conglomerate
"We believe we have laid a strong foundation for the next phase of our growth."
— Avala Global's year-end letter to investors
The Departing Talent
The firm's strong returns were achieved despite losing several key analysts in the second half of 2025. The departing analysts brought significant experience from other prominent funds:
- Jordan Straff - A longtime investor at Roberto Mignone's Bridger Capital before joining Avala in early 2024
- Nadine Lin - Joined from Steve Cohen's Point72
- Michael Wang - Also joined from Point72
Furthermore, the exodus is set to continue into 2026 with the departure of two senior executives. The firm will lose its Chief Operating Officer (COO), David Angstreich, who has been with Avala since its launch in late 2022. Additionally, Rebecca Chia, the firm's top fundraiser who joined in mid-2025, is also scheduled to depart.
A Pattern of Churn
This recent wave of departures is not an isolated incident but rather the continuation of a trend. Last June, reports indicated that a majority of Avala's day-one team had already left the firm, including the entire four-person investing team that reported directly to Nettimi.
Some former employees attributed the departures to a tense workplace environment originating from the firm's leadership. While Nettimi has declined to address the specifics of individual employee exits, she has previously expressed confidence in her team and the firm's process for finding and vetting new talent.
In response to the churn, Avala has been actively hiring. The firm brought on Andrew Genser, a former general counsel at Viking Global, as its in-house lawyer. It also added at least four new analysts in 2025, with two late-year hires coming from the private equity firm Clayton Dubilier & Rice.
Looking Ahead
Avala Global enters 2026 as a high-performing fund with a clear strategy, but it also faces the challenge of stabilizing its leadership team. The departure of its COO and top fundraiser represents a significant shift in its operational and capital-raising capabilities.
The firm's ability to continue its strong performance will depend on its success in replacing departing talent with equally skilled professionals. With a new foundation of hires from diverse backgrounds, including private equity and its former rival, the fund is actively reshaping its team.
Ultimately, the story of Avala Global in 2026 will be one of balance: maintaining its impressive investment returns while navigating the complexities of a transforming workforce.
