Bobby Jain's monster hedge fund is live. Here's everyone Jain Global has hired.

Early on, Jain set his sights on becoming the largest launch on record, drawing inevitable comparisons to ExodusPoint, the previous industry record-setter with a $8.5 billion launch back in 2018.

But Jain Global encountered a more dour fundraising climate, including stiff competition from private-credit funds, and by the time Jain set a formal capital target this January — he couldn't touch investors from his former employer until the start of 2024. 

Jain reportedly offered juicy terms and discounted fees to investors who came aboard quickly and ponied up a lot of cash.

While short of ExodusPoint's mark, the reported $5.3 billion capital haul is still enormous by historical standards, and ExodusPoint, despite — or perhaps because of — that unwieldy sum of money to deploy, hasn't lived up to its lofty expectations.

One key distinction between Exodus and Jain Global is the core competency of its founding investors: Michael Gelband was a lifelong fixed-income trader, and Jain was a long-time equities executive. Exodus has minted steady profits from strategies in Gelband's wheelhouse, like basis trading, but the equities business stumbled and dragged on returns. 

Meanwhile, Jain will be leaning into fundamental equities trading. Once his fund is up to full strength, Jain expects to dedicate 25% of capital toward fundamental stock-picking strategies and another 20% toward equity arbitrage. Jain is angling to hire some 70 investment teams once fully deployed, including 15 to 20 fundamental equities portfolio managers. 

The firm is launching with 215 people, including 42 PMs, according to Bloomberg.

Much of his leadership team — he has been hiring execs from a disparate group of banks and hedge funds, including Citadel, Goldman Sachs, and Morgan Stanley — is now in place, though some executives have not started work at Jain and won't officially come aboard till after its launch.

Business Insider put together a list of known Jain Global hires based on our own reporting, LinkedIn, and other media reports in December. We've periodically updated the list ahead of the firm's launch. As of late June, BI's list numbers about 140 people. 

A spokesman for the firm declined to comment. 

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