Can Bobby Jain build the next hedge fund giant?

鲍比·贾因能否打造下一个对冲基金巨头?

Behind the Money

2025-08-06

22 分钟
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Two summers ago, hedge fund manager Bobby Jain set out with a huge goal: build a hedge fund that can rival the likes of industry giants Citadel and Millennium. But in the year since his firm started trading, Jain has found the going tough. FT hedge fund correspondents Amelia Pollard and Costas Mourselas explain what difficulties he has encountered, and whether building a true rival in this space is possible.  Clip from Bloomberg TV - - - - - - - - - - - - - - - - - - - - - - - - - -  For further reading & listening: Big launch, small gains: Bobby Jain struggles to match hedge fund giants The next Millennium’s slow start  Citadel and Millennium outshone by smaller hedge fund rivals after trade war turmoil 🎧 Hedge fund pioneers face signs of a reckoning - - - - - - - - - - - - - - - - - - - - - - - - - -  Follow Amelia Pollard (@ameliajpollard), Costas Mourselas (@CostasMourselas) and Saffeya Ahmed (@saffeya-ahmed) on X, or follow Saffeya on LinkedIn for updates about the show and more. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
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  • See what adding futures can do for you at cmegroup.com slash podcast.

  • When it comes to hedge fund managers, Bobby Jane is pretty much royalty.

  • Bobby has a really strong reputation on Wall Street for being really charismatic.

  • And he honestly comes off as just very warm.

  • He's not as brash, perhaps,

  • or as boastful than perhaps how you'd imagine a typical high-flying hedge fund manager.

  • But he has a quiet confidence about him, and he's quite good with people.

  • Those are my colleagues Amelia Pollard and Costas Morsalas, who cover hedge funds at the FT.

  • So Bobby Jane got his start at Credit Suisse and then went on to work as basically as Englander's right-hand man at Millennium,

  • which is one of the biggest hedge funds in the world.

  • It's at Millennium that Bobby Jane cements his place as something of a prince in the industry.

  • And things go well for a while.

  • But seven years in, Bobby Jane decides to leave.

  • To build, well, the next Millennium.

  • I want to bring you some breaking news because we want to talk about Bobby Jane,

  • the former co-CIO at Millennium Management,

  • who is forming his own hedge fund, expected to be one of the biggest hedge fund launches ever.

  • He is slashing...

  • Jane set out to launch his own multi-manager hedge fund and rival the biggest firms in the industry,

  • such as Citadel and Millennium.