ExodusPoint Capital Management, the New York-based multi-strategy hedge fund founded by Michael Gelband, is raising $2 billion with backing from Abu Dhabi’s Abu Dhabi Investment Council (ADIC). However, public resources have not verified this transaction, and the specifics of the raise remain unsubstantiated in the public domain.

For a firm already managing roughly $13 billion in assets as of April 2026, an additional $2 billion would represent a meaningful expansion.

ExodusPoint’s global playbook

Gelband launched the firm in April 2017, and it began managing capital in 2018. The operation has grown into a multi-manager platform with offices in New York, London, Dubai, and across Asia. The firm’s core approach centers on diversified liquid strategies spanning equities and fixed income, underpinned by a risk management framework focused on capital preservation.

ExodusPoint’s physical presence in the UAE aligns with a broader movement of hedge funds establishing or expanding UAE operations to tap into regional sovereign wealth capital.

ADIC and the sovereign wealth pipeline

ADIC, the Abu Dhabi Investment Council, sits within Abu Dhabi’s sovereign wealth apparatus and has built a reputation for seeking partnerships with established global managers offering diversification and downside protection.

The crypto connection

In August 2025, ExodusPoint disclosed it had acquired stakes in Alt5 Sigma, a cryptocurrency-linked firm associated with former President Trump. Point72, another major multi-manager hedge fund, made a similar disclosure around the same time. There have been no confirmed reports detailing the exact nature of ExodusPoint’s crypto involvement tied to its recent alleged capital initiatives.