Jain Returns to Millennium, Showing Why Multistrategy Funds Are Tough to Run

Less than two years after launching his multistrategy hedge fund, industry veteran Bobby Jain has concluded that collaboration — not competition — is his best shot at survival in a world already owned by the likes of Millennium Management and Citadel.​​​​​​​​​​​​​​​​

Jain Global, which has about $6 billion under management, has struck a deal that will see the firm return all external cash and manage money exclusively for Millennium, the hedge fund giant run by billionaire Izzy Englander.