ExodusPoint to boost Asia workforce by nearly 80% following Ovata team hire. * September 3, 2026 * - 9:16 am Related topics. ExodusPoint Capital Management is planning a significant expansion of its Asian operations, with the multi-strategy hedge fund expected to increase its regional workforce by almost 80% this year following the recruitment of a team from Ovata Capital Management, according to a report by Bloomberg. The firm, founded by former Millennium executive Michael Gelband, is projected to have around 100 employees across Hong Kong, Singapore and Tokyo by the end of 2026, compared with 56 at the beginning of the year, according to a person familiar with the plans. ExodusPoint has also secured more than 20,000 square feet of office space across the three locations, providing capacity for up to 180 employees as the firm continues to build out its Asian platform. The hedge fund, which manages close to $15bn, reportedly declined to comment. A key component of the expansion is the arrival of James Chen, formerly chief investment officer at Ovata. Under an agreement announced in June, Chen is winding down the $1.5bn hedge fund and joining ExodusPoint as head of Asia equities. The move is bringing 36 former Ovata employees into ExodusPoint's Asian operation, accounting for much of the expected increase in headcount. The additional hires will take the number of lead portfolio managers in the region to 14. Chen will oversee equities across the region, while Steve Ji Xu will lead the macro business. Chen previously worked as a managing director at Barclays and headed BlueCrest Capital Management's Asia equities investment operation. Xu has trading experience at Goldman Sachs and JPMorgan and began his hedge fund career at Capula Investment Management. ExodusPoint, which was established in 2017 and now employs more than 700 people globally, including over 100 portfolio managers, has been a relatively recent entrant to the region compared with some of its larger rivals. The firm's property commitments underline the scale of its ambitions. In Hong Kong, ExodusPoint is expanding its office at Prosperity Tower in Central to 11,000 square feet, roughly double the space it occupied previously. Around 50 employees are expected to be based there by year-end, with the firm committed to the building through September 2029. In Singapore, where ExodusPoint has its longest-established Asian office, the firm is increasing its footprint at Ocean Financial Centre by almost 70% to 9,200 square feet. Its Singapore workforce is expected to reach approximately 41 by the end of the year, with the current lease running until mid-2032.

Hedge funds step up hiring of natural gas traders. * September 2, 2026 * - 10:58 am Related topics. Hedge funds are intensifying their search for natural gas traders as Europe heads towards another potentially volatile winter, with tighter supplies and geopolitical risks creating a bigger opportunity set for energy-focused strategies, according to a report by eFinancial Careers. The competition for experienced gas traders has become particularly intense, with leading hedge funds prepared to offer significantly greater earnings potential than traditional energy companies and trading houses. Balyasny Asset Management has been among the firms expanding its natural gas capabilities. The hedge fund has hired Sayan Palchowdhury in New York from DRW, where he had been trading natural gas after beginning his career in the market at Goldman Sachs. The move comes as Balyasny continues to build out its gas operation, including a European physical natural gas trading business established under Kristian Juncker in 2024. The firm has also recruited commodities specialists from Centrica's energy trading operation. DRW, meanwhile, has experienced a series of departures from its gas trading business. Recent exits include former US gas trading head Teoman Guler, European gas trading head Hayn Park, Michael Kennedy, Adam Findlay and Andrew Mugica, who moved to Millennium. Palchowdhury's departure adds to the turnover. Recruiters say the battle for experienced natural gas specialists has reached unusually high levels. The compensation differential is helping drive the migration. Traders at energy merchants and utilities can typically receive around 15% and 10% of the profits they generate respectively, according to Gregory, compared with the potential for more than 20% at a hedge fund. Recent moves have included Zach Millman, who has moved from BP via Millennium to Castletown Commodities, while Xing Yuan has joined ExodusPoint.