Bobby Jain raised $5.3 billion for his new multistrategy hedge fund, Jain Global
Investors include endowments, foundations, family offices, bank wealth platforms and sovereign wealth funds
Jain aims to compete with private credit firms for capital
Jain Global will start trading on July 1 and focus on US equities, quant, fixed income and macro strategies
Jain has hired over 210 people with portfolio managers from Citadel, Balyasny and Morgan Stanley
In a major development in the world of finance, Bobby Jain has raised $5.3 billion for his new multistrategy hedge fund, marking the biggest fundraising haul since ExodusPoint Capital Management's record debut. The new hedge fund, named Jain Global, is set to start trading on July 1 and will focus on various strategies including US equities, quant, fixed income and macro. Investors in the new venture include endowments, foundations, family offices, bank wealth platforms and sovereign wealth funds. This comes as investors are increasingly looking for alternative strategies to provide uncorrelated investments amidst market volatility.
Jain Global has hired more than 210 people; however, not all of them will start at launch due to previous employment contracts. The multistrategy manager has already hired portfolio managers from rivals and banks like Citadel, Balyasny, and Morgan Stanley who will run various strategies for the fund from offices in New York, Houston, London, Hong Kong and Singapore. Prior to launching his own firm, Jain was the co-chief investment officer at Millennium Management where he worked closely with Izzy Englander. Jain's new fund aims to compete with private credit firms for capital.
Despite facing some challenges in reaching the initial target of $10 billion, Jain has managed to raise a significant sum of $5.3 billion, which is a testament to his reputation and expertise in the financial industry. With an experienced team and diverse investment strategies, Jain Global is poised to make its mark in the competitive world of hedge funds.
Bobby Jain raised $5.3 billion for his new multistrategy hedge fund, which is the biggest fundraising haul since ExodusPoint Capital Management's record debut.
Bobby Jain's much-talked-about new firm, Jain Global, is finally going to be a reality and is set to start trading on July 1.
Jain Global has hired more than 210 people, though not everyone will start at launch because of previous employment contracts.
The multistrategy manager has already hired portfolio managers from rivals and banks like Citadel, Balyasny, and Morgan Stanley who will run various strategies including US equities, quant, fixed income and macro, from offices in New York, Houston, London, Hong Kong, and Singapore.
Accuracy
]Bobby Jain's much-talked-about new firm, Jain Global, is finally going to be a reality and is set to start trading on July 1.[
Bobby Jain raised $5.3 billion for his new multistrategy hedge fund, Jain Global.
Bobby Jain signaled competition for hedge fund investments from private credit firms
Investors are looking for alternative strategies due to uncorrelated investments needs
Previously, investors bought bonds as hedges against stock market volatility
Accuracy
Bobby Jain raised $5.3 billion for his new multistrategy hedge fund, which is the biggest fundraising haul since ExodusPoint Capital Management’s record debut.
