Bobby Jain’s New Fund Led by Ex-DE Shaw Trader Targets SRTs

Bobby Jain is launching a new fund led by former D.E. Shaw & Co. portfolio manager Syril Pathmanathan to focus on bank capital relief trades alongside its flagship multistrategy hedge fund.

His investment firm has raised about $600 million for the Jain Global Strategic Transactions Fund to be launched later this month for strategies including significant risk transfers, according to a person with knowledge of the matter. Pathmanathan’s team also runs an allocation from the firm’s main fund, taking the total assets managed by his group to more than $1 billion, the person said, asking not to be identified because the details are private.