Bobby Jain has gathered $5.3 billion in commitments for his new multi-strategy hedge fund Jain Global. The fundraising marks the biggest fundraising haul since ExodusPoint Capital Management’s record debut with a record $8 billion in assets in 2018.
Bobby Jain is Chief Executive Officer and Chief Investment Officer of Jain Global, a multistrategy investment firm founded in 2024.
Jain Global will start trading July 1, according to reports. Its investors include endowments, foundations, family offices, bank wealth platforms and sovereign wealth funds.
The $5 billion hedge fund, headed by former Credit Suisse managing director Bobby Jain, will launch on 1 July and focus on seven different investment strategies. Over the past 18 months Jain has hired staff from biggest rivals, including Citadel, Balyasny Asset Management and Brevan Howard, as well as the world’s largest investment banks, according to media reports.
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, Bloomberg reported.
Bobby was previously Co-Chief Investment Officer at Millennium Management and responsible for managing its investment process, including capital allocation, risk and strategy.
Prior to joining Millennium in 2016, Bobby was at 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.
Bobby sits on various philanthropic and academic bodies, including the Jain Family Institute, the Board of Harvard Management Company and Cornell University’s Board of Trustees and Investment Committee. He holds a BA in Political Science and Government from Cornell University