Key Takeaways
- • Discovery Capital Management, led by Rob Citrone, has secured USD 400 million in new capital with plans to raise an additional USD 600 million from institutional investors, bringing total capital raise target to USD 1 billion.
- • The macro hedge fund currently manages over USD 3.5 billion in assets under management and has delivered strong returns across multiple years: 48% in 2023, 52% in 2024, 36% in 2025, and 18.6% year-to-date through August 2026.
- • The capital raise reflects investor confidence in Citrone's macro strategy and positions Discovery Capital for significant growth in assets under management.
Summary
Rob Citrone's Discovery Capital Management has attracted USD 400 million in fresh institutional capital, with the macro-focused hedge fund targeting an additional USD 600 million in commitments. The two-tranche capital raise underscores renewed institutional appetite for established macro managers following a period of strong performance.
Discovery Capital currently manages over USD 3.5 billion in assets. The fund has demonstrated consistent returns across recent years, gaining 48 percent in 2023, 52 percent in 2024, and 36 percent in 2025. Performance momentum has continued into 2026, with the fund posting an 18.6 percent gain through August.
The successful capital raise comes as macro-oriented hedge funds continue to attract institutional capital in a market environment shaped by macroeconomic uncertainty and geopolitical dynamics. The planned USD 1 billion total raise signals Citrone's confidence in the fund's strategy and capacity to deploy capital effectively at scale, potentially positioning Discovery Capital among the larger dedicated macro funds by assets under management.
Discovery Capital currently manages over USD 3.5 billion in assets. The fund has demonstrated consistent returns across recent years, gaining 48 percent in 2023, 52 percent in 2024, and 36 percent in 2025. Performance momentum has continued into 2026, with the fund posting an 18.6 percent gain through August.
The successful capital raise comes as macro-oriented hedge funds continue to attract institutional capital in a market environment shaped by macroeconomic uncertainty and geopolitical dynamics. The planned USD 1 billion total raise signals Citrone's confidence in the fund's strategy and capacity to deploy capital effectively at scale, potentially positioning Discovery Capital among the larger dedicated macro funds by assets under management.
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.