Key Takeaways
- • Abu Dhabi Investment Council (ADIC) backed ExodusPoint's USD 2 billion capital raise, increasing the New York-based hedge fund's assets under management to USD 14.5 billion—marking its first capital raise since 2023.
- • ExodusPoint delivered an 18% return in 2025, its strongest annual performance on record, demonstrating strong investment performance ahead of the capital raise.
- • ADIC, a USD 150 billion sovereign wealth fund with approximately 61% of its portfolio in private markets, continues to deploy capital strategically into alternative investment vehicles and hedge funds.
- • The fundraising reflects continued confidence in hedge fund strategies and ExodusPoint's management, led by founder Michael Gelband, despite broader geopolitical tensions affecting regional credit outlook.
Summary
Abu Dhabi Investment Council has committed capital to ExodusPoint's USD 2 billion fundraising round, significantly expanding the hedge fund's capital base. The capital raise brings ExodusPoint's total assets under management to approximately USD 14.5 billion, representing the fund's first new capital deployment since 2023. The New York-based hedge fund, founded by Michael Gelband in 2018, secured the backing following exceptional investment performance, having delivered an 18% return in 2025—the fund's strongest annual result on record.
ADIC's participation in the raise reflects the sovereign wealth fund's ongoing strategic focus on alternative investment vehicles. The Abu Dhabi Investment Council manages approximately USD 150 billion in assets and has positioned private markets as a core allocation, with roughly 61% of its investment portfolio dedicated to private equity, hedge funds, and related strategies. This capital deployment aligns with ADIC's broader mandate to optimize returns across asset classes while supporting institutional-quality investment managers.
The timing of ExodusPoint's capital raise occurs amid mixed signals in global financial markets. While hedge fund performance has attracted institutional capital, regional credit conditions have deteriorated due to geopolitical tensions. Fitch has shifted its outlook on Middle Eastern sovereign credit from neutral to deteriorating, citing ongoing security risks. Nevertheless, ADIC's commitment to ExodusPoint underscores continued confidence in the fund manager's ability to deliver alpha across market cycles and reinforces the strategic importance of diversified alternative investment allocations for large institutional investors.
ADIC's participation in the raise reflects the sovereign wealth fund's ongoing strategic focus on alternative investment vehicles. The Abu Dhabi Investment Council manages approximately USD 150 billion in assets and has positioned private markets as a core allocation, with roughly 61% of its investment portfolio dedicated to private equity, hedge funds, and related strategies. This capital deployment aligns with ADIC's broader mandate to optimize returns across asset classes while supporting institutional-quality investment managers.
The timing of ExodusPoint's capital raise occurs amid mixed signals in global financial markets. While hedge fund performance has attracted institutional capital, regional credit conditions have deteriorated due to geopolitical tensions. Fitch has shifted its outlook on Middle Eastern sovereign credit from neutral to deteriorating, citing ongoing security risks. Nevertheless, ADIC's commitment to ExodusPoint underscores continued confidence in the fund manager's ability to deliver alpha across market cycles and reinforces the strategic importance of diversified alternative investment allocations for large institutional investors.
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