NEW YORK: Bobby Jain has gathered US$5.3bil in commitments for his new multi-strategy hedge fund, marking the biggest fundraising haul since ExodusPoint Capital Management’s record debut.
The firm won backing from sovereign wealth giant Abu Dhabi Investment Authority (ADIA), and has lined up bank wealth platforms including Morgan Stanley, Goldman Sachs Group Inc, UBS Group AG and HSBC Holdings Plc, according to people familiar with the matter. Jain Global will start trading July 1.
