Key Takeaways
- • ExodusPoint's assets under management fell by $1bn in the first half of 2024, following a total AUM decline of more than $2bn, or 16%, over 18 months including a 2023 drop, according to eFinancialCareers' analysis.
- • Data filed with the SEC shows ExodusPoint's headcount fell from 662 to 647 between the start of 2024 and August, with investment staff declining from 312 to 308.
- • By eFinancialCareers' estimate, ExodusPoint has added at least 10 portfolio managers in 2024 across the UK, US, UAE and Singapore, despite the shrinking asset base.
- • ExodusPoint returned 3.6% year to date, according to Bloomberg, while co-founder Hyung Lee stepped down from his role as head of equities into an advisory role earlier in August.
Summary
Hedge fund ExodusPoint is shrinking in assets and staff while continuing to recruit portfolio managers, according to eFinancialCareers. The firm raised an additional $1bn in assets under management at the end of 2023, but its AUM fell by $1bn in the first half of 2024. Including this year's decline and a prior fall in 2023, AUM is down more than $2bn, or 16%, in roughly 18 months.
Data filed with the SEC shows total headcount fell from 662 to 647 between the start of 2024 and August, while investment staff dropped from 312 to 308 over the same period. Despite these reductions, eFinancialCareers estimates that ExodusPoint has added at least 10 portfolio managers this year across the UK, US, and UAE.
Recent London hires include Jean-Tristan Marin, joining from Squarepoint as a senior quant PM, and Alexis Busquet de Caumont, who joined from BNP to run a global macro portfolio. In Dubai, the firm added Adrian Ahmadi from Point72 to run a long-short equity pod, and in Connecticut it hired J.P. Coviello from BlueCrest to run macro. Other notable 2024 hires include Praveen Vishesh from Modular Asset Management in Singapore, Christian Binaghi from Louis Dreyfus in New York, and John Lantz from Brevan Howard in New York.
According to Bloomberg, ExodusPoint has returned 3.6% so far this year. Co-founder Hyung Lee stepped down earlier in August from his role as head of equities into an advisory role. The firm launched in 2017 as the largest hedge fund debut in history.
Data filed with the SEC shows total headcount fell from 662 to 647 between the start of 2024 and August, while investment staff dropped from 312 to 308 over the same period. Despite these reductions, eFinancialCareers estimates that ExodusPoint has added at least 10 portfolio managers this year across the UK, US, and UAE.
Recent London hires include Jean-Tristan Marin, joining from Squarepoint as a senior quant PM, and Alexis Busquet de Caumont, who joined from BNP to run a global macro portfolio. In Dubai, the firm added Adrian Ahmadi from Point72 to run a long-short equity pod, and in Connecticut it hired J.P. Coviello from BlueCrest to run macro. Other notable 2024 hires include Praveen Vishesh from Modular Asset Management in Singapore, Christian Binaghi from Louis Dreyfus in New York, and John Lantz from Brevan Howard in New York.
According to Bloomberg, ExodusPoint has returned 3.6% so far this year. Co-founder Hyung Lee stepped down earlier in August from his role as head of equities into an advisory role. The firm launched in 2017 as the largest hedge fund debut in history.
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