Steven Binetter is a New York–based investment professional with nearly two decades of experience spanning public markets and private investments. From August 2015 to May 2025, he served at Marshall Wace in New York as a Portfolio Manager and, beginning in 2023, as a Partner. Marshall Wace is a global long/short equity hedge fund managing approximately $70 billion in assets. At the firm, Binetter was the sole investment team member on the U.S. Management Committee and delivered strong, consistent returns at scale over an extended period.
Steve Binetter joined Marshall Wace when the firm managed about $15 billion in assets and employed roughly 25 people in the United States. In 2015, he launched the Global Industrials strategy, known internally as the Eureka Fund, as Portfolio Manager. Starting with approximately $200 million in gross market value, the strategy grew to $1.5 billion by the end of 2016 and operated between $3 billion and $7 billion from 2017 through 2025. He built and led a seven-member investment team characterized by exceptional stability, with only two departures over ten years. The strategy’s geographic exposure typically consisted of about 75% U.S. and 25% international investments.
His sector expertise spans industrials and business services, which represented more than half of his portfolio exposure, as well as technology, media and telecommunications (TMT), consumer, non-bank financials, and life science tools. Alongside his fundamental investing work, he developed systematic and quantamental sub-strategies aimed at both alpha generation and risk optimization. Binetter also chaired the firm’s quarterly investment team meetings in New York, aligning research, portfolio construction, and risk management efforts across his team.
From January 2021 to May 2025, Binetter served as Co-Portfolio Manager of the MW XO Digital Finance Fund, a private vehicle with approximately $450 million under management. He helped market, launch, and oversee the fund, sourcing, researching, and managing more than half of its invested capital. Notable investments included Circle, Human Interest, Lukka, TRM Labs, and Accelerant. This work reflected his broader focus on companies operating at the intersection of financial services and technology, particularly those developing data, infrastructure, compliance, and insurance solutions for institutional clients.
Before joining Marshall Wace, Steve Binetter spent eight years at Eminence Capital in New York (August 2007–May 2015), a long/short equity hedge fund managing approximately $7 billion. He joined as a Research Associate, was promoted to Analyst in 2009, and to Portfolio Manager in 2013. At Eminence, he reported directly to the Chief Investment Officer and was responsible for up to 25 concurrent positions, including trading and sizing decisions. His investment ideas frequently became core positions, with individual long exposures reaching $300 million and short exposures up to $100 million. His experience at Eminence developed deep sector knowledge across industrials, TMT, consumer, and international markets spanning Western Europe, South America, and Asia.
Binetter began his career in investment banking at UBS Investment Bank in New York, working as an Analyst in the Mergers and Acquisitions Group from June to August 2005 and again from June 2006 to July 2007. There, he conducted detailed financial and valuation analyses, including public and private merger models, discounted cash flow analyses, and comparable company evaluations, while supporting management teams in developing operating models.
He holds a Bachelor of Commerce (with Merit) from the University of New South Wales (UNSW), where he majored in Finance and studied from January 2003 to June 2006. He also completed three and a half years toward a Bachelor of Laws degree. While at UNSW, he was a member of the university’s representative soccer team, which won the U19 NSW Soccer Federation Division 2 State League Championship in 2003. Steve Binetter also completed coursework at the Wharton School of the University of Pennsylvania (Mergers & Acquisitions, Negotiations, Corporate Valuation, and Advanced Corporate Finance, Spring 2005) and at New York University’s Stern School of Business (Real Estate Finance, Investment Banking, and Real Estate Asset Management, Fall 2005).
Binetter attended Sydney Grammar School, where he received the Premier of NSW Award for All-Round Excellence in the Higher School Certificate (2002). He was a member of the school’s 1st XI GPS soccer team, earning Full School Colours in soccer, and won the school Eisteddfod in 1997 for trombone and euphonium performance.
Outside of his professional career, Steven Binetter enjoys spending time with his family and pursues interests including English Premier League football, backgammon, swimming, and private investing. He has lived and worked in the New York area, including Mamaroneck and New York City.
https://www.ainvest.com/news/marshall-wace-scores-47-gain-circle-ipo-2506/
https://ffnews.com/people/steven-binetter/
https://ffnews.com/newsarticle/lukka-exceeds-billion-dollar-milestone-in-latest-fundraise/