High-profile hedge fund managers line up launches for 2024

A bumper crop of 40 high-profile hedge fund launches by former portfolio managers of multi-billion dollar firms is expected this year, said research firm PivotalPath and other prime broker and industry sources.

PivotalPath is tracking 40 planned high-profile launches this year, compared to 26 expected this time last year. Prime brokers and investors told Reuters they were also expecting a lot of debuts by managers who have left big firms. In a rare woman-led debut, Chiki Gupta Brahm, another former Citadel portfolio manager, is expected to launch Tessellis Capital Management at the end of the year, trading industrials, consumer and TMT stocks, one source said.The most high-profile launches of multi-billion dollar hedge funds this year will come from former Millennium Management co-Chief Investment Officer Bobby Jain, and a spinoff of Capula Investment Management by its partner Nat Dean, one source said.

High rates have driven investor demand for credit funds, according to surveys by Barclays and BNP Paribas prime brokers. Credit funds will also be among the launches this year.

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