Overview
- Jain Global will return about $6 billion to clients as it pivots to run its multi-strategy book solely for Millennium, according to a memo reported by Business Insider.
- The agreement would give Millennium exclusive access to Jain Global’s full investment capacity, with closing expected in the third quarter.
- Jain posted a 3.7% gain in 2025 that lagged peers as pass-through startup costs reduced investor returns, and the tie-up is meant to tap stronger infrastructure and longer-term capital.
- Jain Global says it will remain independent and keep its own investment process and team while gaining access to Millennium’s platform and resources.
- Millennium invests more than $84 billion across hundreds of teams, and the deal highlights its growing role as a top allocator in multistrategy hedge funds; both firms declined to comment.