Key Takeaways
- • ExodusPoint Capital Management is reopening to new investor capital for the first time in three years, targeting $1 billion in fresh fundraising to expand its trader headcount and asset base.
- • The multi-strategy hedge fund, founded by Michael Gelband, currently operates with 650 employees and maintains offices across eight global locations including New York, London, Singapore, and Hong Kong.
- • The fundraising push positions ExodusPoint ahead of anticipated multi-strategy hedge fund launches scheduled for 2024, suggesting competitive positioning within the crowded alternative asset management space.
- • ExodusPoint achieved record-breaking status at its 2018 launch with $8.5 billion in initial capital, marking the largest hedge fund launch in history.
Summary
ExodusPoint Capital Management is reopening its doors to new investor capital for the first time in three years, according to Bloomberg. The multi-strategy hedge fund firm is targeting $1 billion in fresh fundraising as it seeks to expand its trading team and grow its overall asset base. This capital raise represents a significant strategic move for the firm as it navigates competitive pressures within the hedge fund industry heading into 2024.
Founded by Michael Gelband and Hyung Lee, ExodusPoint has established itself as a major player in the alternative investment space since its record-breaking 2018 launch, which raised $8.5 billion—the largest amount ever raised by a newly launched hedge fund. The firm currently employs 650 people and maintains a global footprint with offices in New York (headquarters), Connecticut, London, Jersey, Singapore, Tokyo, Dubai, and Hong Kong. This geographic diversification supports its multi-strategy investment approach spanning credit strategies in liquid markets, fundamental long/short positions, credit index and options, and macro credit strategies.
The timing of the capital raise reflects competitive dynamics within the multi-strategy hedge fund sector, with several new fund launches anticipated in the coming year. By reopening to new investors now, ExodusPoint positions itself to capture capital before additional competitors enter the market. The decision to fundraise also signals management's confidence in its operational infrastructure and investment performance, enabling the firm to scale its trading capabilities and investment teams to capitalize on market opportunities.
Founded by Michael Gelband and Hyung Lee, ExodusPoint has established itself as a major player in the alternative investment space since its record-breaking 2018 launch, which raised $8.5 billion—the largest amount ever raised by a newly launched hedge fund. The firm currently employs 650 people and maintains a global footprint with offices in New York (headquarters), Connecticut, London, Jersey, Singapore, Tokyo, Dubai, and Hong Kong. This geographic diversification supports its multi-strategy investment approach spanning credit strategies in liquid markets, fundamental long/short positions, credit index and options, and macro credit strategies.
The timing of the capital raise reflects competitive dynamics within the multi-strategy hedge fund sector, with several new fund launches anticipated in the coming year. By reopening to new investors now, ExodusPoint positions itself to capture capital before additional competitors enter the market. The decision to fundraise also signals management's confidence in its operational infrastructure and investment performance, enabling the firm to scale its trading capabilities and investment teams to capitalize on market opportunities.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.