As the layoffs at Schonfeld highlighted last week, it's not necessarily easy being a multistrategy hedge fund. Even if you grow assets under management, poor returns and high people and technology costs can be your undoing. Hedge fund talent has never been more expensive, and yet one fund is out there building its team from scratch. Jain Global is due to launch in July 2024. When it does, it's expected to have anything from $8bn to $10bn in assets under management. A New York office is already open; others are planned for London, Singapore and Hong Kong.