Gelband Hedge Fund Is Said to Make Under 1% After Biggest Launch
- ExodusPoint raised $8 billion and started trading in June
- Goldman Sachs Asset Management and BlackRock among investors
This article is for subscribers only.
Michael Gelband last year raised the most money ever for a hedge fund launch. But he barely turned a profit for his investors.
His ExodusPoint Capital Management, which raised $8 billion and started trading in June, made about 0.6 percent in its first seven months, according to people with knowledge of the returns. A spokesman for the New York-based hedge fund declined to comment.