Multistrategy hedge fund startup Arrowpoint Investment Partners has increased assets under management to $1.1 billion after a 3% return in November, the best monthly result since it started trading in July, according to a person with knowledge of the matter.
Author of the article:
Published Dec 08, 2024 • 1 minute read
New York Photographer: Jeenah Moon/Bloomberg Photo by Jeenah Moon /Bloomberg (Bloomberg) — Multistrategy hedge fund startup Arrowpoint Investment Partners has increased assets under management to $1.1 billion after a 3% return in November, the best monthly result since it started trading in July, according to a person with knowledge of the matter.
Article content
Article content
The firm, which began with $500 million, is expecting as much as $400 million of additional capital in the first half of 2025, the person said, asking not to be identified discussing private information. Chief Operating Officer Andrew Freyre-Sanders declined to comment.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Early gains by new hedge funds are pivotal in an industry where larger pod-shops like Millennium Management have absorbed the lion’s share of fresh inflows in recent years. Underscoring the competition for capital, 55 such firms saw combined assets drop for the first time in seven years in the 12 months through June, according to a Goldman Sachs Group Inc. report.
Arrowpoint is led by Jonathan Xiong, a former Asia co-chief executive officer of Izzy Englander’s $70 billion Millennium. One of the largest Asia hedge fund startups in recent years, it counts Canada Pension Plan Investment Board, Blackstone Inc. and a unit of Temasek Holdings Pte as its anchor investors. It trades with 17 investment teams spread between Singapore and Hong Kong, with five more teams hired who will start later.
The November return gave Arrowpoint a 1% return since its inception, said the person. While trading was profitable in four of the five months, such revenue was drowned out in the third quarter by fixed expenses as client money gradually flowed in. The November gain came after assets hit $1 billion by October, allowing it to make money on a larger pool of capital.
November also saw uncertainties tied to the US election receding, allowing investors to shift focus back to corporate and economic fundamentals. All four of Arrowpoint’s investment strategies — commodity, fixed-income macro, systematic and equities — made money against the backdrop, the person said.
Article content
