Having reportedly raised over $5bn, all eyes are on Bobby Jain as the former co-CIO at Millennium launches the Jain Global hedge fund.
Expected to start trading on 1 July, the fund raised significant backing from Abu Dhabi Investment Authority, according to Bloomberg.
Financial News reports that the hedge fund team is over 50 strong, including "including DE Shaw’s Syril Pathmanathan, Citadel’s Paul Jefferys and BlueCrest’s Jason Greenberg."
There is also reportedly "former Deutsche Börse managing director Ashwin Kumar as head of Europe, and former UBS executive James O’Callaghan, the firm’s global head of trading."
However, the overall staffing at Jain Global could be much higher, according to efinancialcareers, which also points to US visa data when estimating talent costs possibly occurring within operations around the new hedge fund.
It says Jain Global now employs some 215, of which 42 are portfolio managers, spread across New York, Huston, London, Hong Kong and Singapore. On the visa data it says: "Recently filed H1B visa information for Jain Global in New York City says it recently recruited a senior portfolio manager following a "technology strategy" on a $250k salary and that two quant researchers were recently hired on salaries of $175k and $180k."
Bobby Jain is the CIO and CEO of Jain Global. Previously, he was co-CIO at Millennium, responsible for managing the firm's investment process, including capital allocation, risk, and strategy. Before that he was at Credit Suiss for some 20 years in roles including global head of Asset Management, co-head of Global Securities, and global head of Proprietary Trading across equities and fixed income.
The Jain Global website currently does not include details of the new fund https://www.jainglobal.com/
