Investing
Hedge Fund ExodusPoint Opens for New Cash to Raise $1 Billion
- Firm raising new capital for the first time in three years
- It hired about 40 portfolio managers over the past 12 months
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ExodusPoint Capital Management is reopening to raise fresh cash for the first time in three years as the multi-strategy hedge fund firm looks to grow its team of traders and asset base.
The firm co-founded by Michael Gelband and Hyung Lee is in talks with investors to raise $1 billion by year-end, according to people with knowledge of the matter. The fund managed $12.5 billion as of July 1, down from $13 billion at the end of last year. It had been closed to new money since September 2020.