Bobby Jain's New Hedge Fund Plans Major Push Into Commodities [BNN Bloomberg (Canada)]
SUMITOMO CORP S/ADR (SSUMY)
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Source: BNN Bloomberg
Jain Global will allocate to commodities 15% to 20% of the roughly $5 billion it's aiming to raise, according to a person familiar with the matter, who asked not to be identified because the details are private. The fund — due to launch in July — will trade commodities derivatives before moving into physical transactions. Jain Global is on track to be one of the biggest hedge fund launches in years, and its push into energy and metals is the latest example of how investors are piling back into raw materials. A gauge of prices has rallied to the highest in a year, driven by supply disruptions, geopolitical tensions and a bid to hedge against higher-for-longer inflation. The hedge fund's commodities aim is another example of how big multistrategy firms are looking to replicate the success of Citadel in building out commodity-trading businesses with exposure to physical markets. Jain's foray into the sector is being led by former Macquarie Group Ltd. veteran David Hochberg, with abo
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