Jain Global Raises $5.3 Billion, Secures Cash From Abu Dhabi (2)

Bobby Jain has gathered $5.3 billion in commitments for his new multistrategy hedge fund, marking the biggest fundraising haul since ExodusPoint Capital Management’s record debut.

The firm won backing from sovereign wealth giant Abu Dhabi Investment Authority, and has lined up bank wealth platforms including Morgan Stanley, Goldman Sachs Group Inc., UBS Group AG and HSBC Holdings Plc, according to people familiar with the matter. Jain Global will start trading July 1.

The firm also has endowments, foundations, family offices and pensions as investors.

Representatives for Jain Global, ADIA, Goldman Sachs, UBS and Morgan ...