Jain Global to return investor capital as it joins forces with Millennium for exclusive management
Jain Global, the multi‑strategy hedge fund founded in 2024 by Bobby Jain, plans to return investor cash in Q3 and will instead manage money exclusively for Millennium Management under an internal deal, allowing Jain Global to stay independent while Millennium gains scale. The move highlights the high costs and capital needs of multi‑strategy funds, as Jain Global—about $6 billion in AUM—faced difficult fundraising and competition from giants like Citadel and DE Shaw amid volatile markets.