ExodusPoint has raised $2 billion, with the full amount coming from Abu Dhabi's ADIC. The capital injection adds a deep-pocketed institutional partner to the investment firm's base of backers.
The size of the commitment
ADIC, the Abu Dhabi Investment Company, provided the entire $2 billion. The firm did not disclose the form of the backing or any specific terms. ExodusPoint said only that the funding was secured from the state-owned investor.
The deal gives ExodusPoint a significant increase in its available capital. The company now has more resources to pursue its investment strategies, though it has not detailed how the money will be deployed.
ADIC's role
ADIC is a government-linked investment company based in Abu Dhabi. Its participation in the raise signals continued interest from Middle Eastern institutions in large alternative asset managers. ADIC has a long history of backing investment firms, but this is its most prominent commitment to a single hedge fund manager.
The investment also deepens ADIC's exposure to multi-strategy trading, a sector that has attracted substantial inflows from sovereign wealth funds in recent years. ExodusPoint, founded by former Millennium executives, is one of the larger independent players in that space.
