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Jain Global, one of the buzziest hedge fund launches, recently wrapped its first year of trading.
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After a slow start, Jain started gathering momentum in 2025.
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Business Insider dug into the numbers and charts that explain Jain Global’s first year.
Jain Global launched last July with great fanfare and even greater expectations. It landed with a thud — at first — before gathering momentum toward the end of its first year.
While Jain Global didn’t end up being the largest hedge fund launch ever, as founder Bobby Jain had once envisioned, it nonetheless holds a claim to being the most complex and ambitious.
Jain raised $5.3 billion in commitments from the Abu Dhabi Investment Authority, a sovereign wealth fund, and wealth management platforms from Goldman Sachs and Morgan Stanley, among others. Jain Global didn’t start trading that full amount right away. Instead, it received and put the money to work in stages, the last $700 million arriving in July.
The firm started trading with 215 employees and six overarching investment strategies, as well as a seventh Asia-specific business line that trades in each strategy — an unprecedented and expensive rollout intended to lay the foundation for future growth. In its first year, the firm traded about 50 products — everything from convertible bonds to significant risk transfers, Delta 1 options, and natural gas — across 45 countries.
Fair or not, the heft of Jain’s undertaking immediately thrust it into competition with the world’s largest multistrategy hedge funds, drawing comparisons to Millennium, Citadel, and Exoduspoint, which holds the crown as the largest ever hedge fund launch.
Business Insider dug into more of the numbers and charts that explain Jain Global’s first year. Charts are based on BI conversations with people familiar with the firm as well as public media reports.
A Jain Global spokesman declined to comment.
Jain Global’s roster has expanded significantly since launch, growing nearly 80% to more than 380, about half of which are investment professionals, a person close to the firm said. PMs are still joining as their noncompete provisions and garden leaves expire.
One upshot of launching seven businesses at once, according to people familiar with the firm’s strategy, is minimizing technology headaches from bolting on businesses years later.
Each of the seven business lines has a dedicated CIO overseeing the operation, apart from equity arbitrage. That business, which includes strategies like index rebalance and volatility trading, is overseen by founder and firm-wide CIO Jain, who spent decades at Millennium and Credit Suisse deeply involved in such trades.
