The hedge fund with the largest launch of 2018 will get larger.

ExodusPoint Capital Management will reopen its arms in 2020 to add a few billion to its AUM. The hedge fund was the industry’s largest in 2018 at $8 billion.

Now, it plans to raise another $2 billion in the spring.

About ExodusPoint Capital

The former head of fixed income at Millennium Management, Michael Gelband, co-founded ExodusPoint.

Since its June 2018 launch, it has deployed between 70% to 85% of investor capital, based on conflicting reports.

The Financial Times reports that the fund will likely deploy it all by the end of the year. The fund employs a multistrategy approach across multiple managed portfolios. It primarily invests in government bonds and equities. The firm has 62 portfolio managers around the world. FT says they will hire eight more by the end of Q1 2020.

Despite its ballooning AUM, the hedge fund has actually lagged against its peers. The fund is up 5% this year, compared to the 7.1% return from the Hedge Fund Research HFRI Composite. It returned 0.6% between June 2018 and the end of last year.

The new capital raise comes at an interesting time for the hedge fund sector. Investors have pulled $77 billion from hedge funds this year, according to data from eVestment and Hedge Fund Research.

Related: Blackstone Group may raise over $100 billion this year