Key Takeaways
- • ExodusPoint Capital Management, the hedge fund founded by Michael Gelband, raised a record $8 billion, according to Bloomberg, making it the largest hedge fund startup on record.
- • Bloomberg's Yalman Onaran discussed the raise on "Bloomberg Markets" on May 21, 2018.
- • The launch highlights continued institutional appetite for experienced hedge fund managers spinning out with large seed and anchor capital.
Summary
Bloomberg reported on May 21, 2018 that Michael Gelband's ExodusPoint has raised a record $8 billion, making it the biggest hedge fund startup ever. Bloomberg's Yalman Onaran discussed the fundraise on "Bloomberg Markets," framing the launch as a landmark for the industry.
Gelband, a former Citadel executive who previously led Citadel's global fixed-income and macro operations, launched ExodusPoint as an independent firm. The scale of the capital raised places the fund among the largest new hedge fund launches in the industry's history, underscoring how allocators continue to concentrate capital with established managers who leave larger platforms.
The source video is brief and does not provide a detailed breakdown of investor composition, strategy allocation, or fee terms. Readers seeking those specifics should consult Bloomberg's full reporting on the launch.
Gelband, a former Citadel executive who previously led Citadel's global fixed-income and macro operations, launched ExodusPoint as an independent firm. The scale of the capital raised places the fund among the largest new hedge fund launches in the industry's history, underscoring how allocators continue to concentrate capital with established managers who leave larger platforms.
The source video is brief and does not provide a detailed breakdown of investor composition, strategy allocation, or fee terms. Readers seeking those specifics should consult Bloomberg's full reporting on the launch.
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