ExodusPoint Will Reopen and Raise Another $2 Billion

November 18, 2019 | Fund Updates, Hedge Funds, Investments, News

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

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.

Alt Insights

January 16, 2020

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

ESG: Lately-turned Tesla Bull Jim Cramer Adds Fink To The Mix

Latest Alternative Investment News

Act Analytics Launches New ESG Portfolio Analytics Platform
January 27, 2020     ESG and Sustainability, News

Act Analytics announced the launch of a new Environmental, Social and Governance (ESG) portfolio analytics platform. The new platform allows RIAs to compare, contrast, and construct customized ESG portfolios. The…

Digital Assets: Covantis, a Blockchain-based Agri-business Platform, Ties With ConsenSys
January 27, 2020     Digital Assets, News

Covantis is a blockchain-focused project backed by multinational agri-business companies Cargill, Archer Daniels Midland Company, Bunge and Louis Dreyfus Company. Launched in 2018, the project aims to digitize the firms’…

Bank Technology: The Driver of M&A Over the Next 10 Years?

Will 2020 be the year that we see the tipping point in bank technology? Attendees at the Bank Director Magazine Conference in Phoenix think so. The sentiment is that banks in 2030…

Bank Director Magazine Conference: Fintech, Cybersecurity and Other Worries for 2020

Tim Melvin is attending the conference in Phoenix this week. At the top of the list is competition form fintech firms and big tech companies. Millennials are more focused on…