Bobby Jain Hires More Key Talent Ahead of 2024 Hedge Fund Debut

Bobby Jain is filling key roles and locking down office space around the world as he prepares for what could be one of the biggest hedge fund launches in industry history.

(Bloomberg) — Bobby Jain is filling key roles and locking down office space around the world as he prepares for what could be one of the biggest hedge fund launches in industry history.

The former Millennium Management executive hired Townie Wells as chief investment officer for fundamental equities in the Americas, according to a person familiar with the matter. Wells, who’s joining Jain Global in October 2024, most recently worked for two years as a portfolio manager at Citadel’s equities unit, Ashler Capital, according to his LinkedIn profile.

A spokesperson for New York-based Jain Global, which is expected to begin trading in July, declined to comment.

The firm’s debut is poised to rival the $8 billion launch of ExodusPoint Capital Management in 2018, and hedge fund investors now expect Jain could start with as much as $10 billion. He’s setting up his own multi-manager, multi-strategy firm after helping Millennium to almost double its assets during his seven years there. Before that, Jain spent about two decades at Credit Suisse Group AG.

Jain Global, which will be located at 510 Madison Ave. in Manhattan, is also planning to acquire office space in London, Hong Kong and Singapore in coming months.

Read more: Billion-Dollar Hedge Fund Startups Rise to Pre-Pandemic Levels

Paul Enright, who worked for 12 years at Viking Global Investors before starting his own family office six years ago, will be chairman of Jain Global’s fundamental equities unit. In that role, he will coach and mentor portfolio managers of the strategy. Enright was a senior portfolio manager at Viking, focusing on technology, media, telecom and consumer stocks, according to his LinkedIn profile.

Jain Global also hired Sam Kellie-Smith as the firm’s head of Asia. The 26-year Morgan Stanley veteran will be based in Singapore.

The firm previously hired Matt Croy as chief technology officer, the person said. It also hired Elliott Management veteran Jaime Hobbeheydar to run investor relations and marketing.

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