Bobby Jain raises $5.3 billion in the largest hedge fund debut since 2018

For his new multi-strategy hedge fund, Bobby Jain has secured $5.3 billion in commitments, the largest amount of funding since ExodusPoint Capital Management's historic launch. 

Bobby Jain is the CEO and Chief Investment Officer of the multistrategy investment firm - Jain Global, founded in 2024.

Jain Global will begin trading on July 1. Investments come from sovereign wealth funds, bank wealth platforms, family offices, endowments, and foundations.

The company will be on seven different investment strategies. If reports are to be believed, Jain has roped in staff from biggest rivals, including Citadel, Balyasny Asset Management and Brevan Howard, as well as the world’s largest investment banks.

Michael Gelband’s ExodusPoint still enjoys the distinction of biggest-ever hedge fund debut. Yet another Millennium alumnus, Gelband raised $8 billion for a multi-strategy fund that began in 2018 and has fixed-income and equity businesses, as per news report.      

Prior to this, Bobby was the Co-Chief Investment Officer at Millennium Management and responsible for managing its investment process, including capital allocation, risk and strategy.

He was also associated with Credit Suisse for 20 years in various roles, including Global Head of Asset Management, Co-Head of Global Securities and Global Head of Proprietary Trading across equities and fixed income. He began his career at O'Connor & Associates as an Options Trader.