Jain Global, a new hedge fund founded by former Millennium CIO Bobby Jain, has confirmed JP Morgan alumnus Jeremy Wyatt as its new EMEA head of trading.
The new investment management firm, which is expected to go live in July and already has around US$3bn in commitments, is widely seen as one of the biggest new launches on the hedge fund scene. Jain, who originally was aiming for the biggest ever hedge fund debut with hopes of raising US$8-10b (surpassing the US$8bn record of ExodusPoint Capital Management in 2017), tempered expectations back in January with new plans to launch with around US$5-6bn in capital.
According to reports, the fund has been attracting investors with the promise of lower fees (10% for US$250m or more) and has already hired over 100 employees across London and New York.
Wyatt, who joins as EMEA head of trading, was formerly director of prime and investor services sales for hedge funds and alternatives at JP Morgan, a role he held for three years. He was previously EMEA head of trading for quant asset manager WorldQuant, a Connecticut-based hedge fund owned by Millennium.
He started his career as an algorithmic equity trader with Merrill Lynch.
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