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The hot new hedge fund of 2024 has been hiring from Morgan Stanley & Jane Street

Jain Global, the hedge fund founded by Bobby Jain, the former Millennium co-chief investment officer, is still hiring ahead of its launch in July. Its latest portfolio management recruits include macro traders in Singapore and Frankfurt and a former trader from Jane Street in New York.

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Jain's Frankfurt hire is Benedict Stoddart, who spent the past decade as a rates trader at Morgan Stanley in London and then Frankfurt from 2019. Stoddart, who is English, is returning to the UK for his role at Jain. 

Jain also recruited Sant Gupta, another macro portfolio manager from Crescent Asia Asset Management in Singapore. Gupta was previously a macro prop trader at Nomura. 

It's also made two recent portfolio manager recruits in New York and London: Jonathan Plattner joined from Jane Street, where he spent nearly six years after graduating in computer science from Cornell University; Richard Martin joined as a credit portfolio manager in London. Martin was once the head of quantitative strategies at Man Group, but he's spent the past five years as an independent consultant in the area of systematic trading. 

When we wrote about Jain in February, it had 80 employees and around 20 portfolio managers. Since then, it seems to have added at least five new PMs. In addition to the new names above, it added distressed debt focused Jeff Bersh from Venor Capital Management in New York earlier this month, as reported by Business Insider. 

Jain Global didn't respond to a request to comment on its new hires. The fund had initially intended to launch in July with $8-$10bn of assets, but the Financial Times reported in January that $5-$6bn of assets seemed more likely. In February, Bloomberg reported that Jain had $3bn and was on track for the new $5-$6bn total.  

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Photo by Liam & Tory on Unsplash

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AUTHORSarah Butcher Global Editor

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