ExodusPoint, led by Michael Gelband, is the top-performing hedge fund in 2025, outperforming its peers with a 9% increase this year and an 18% return since July 2024. Gelband, who specializes in fixed-income, has strategically expanded the firm, which has seen a slight reduction in staff since 2022.

ExodusPoint was the largest hedge fund launch in industry history in 2018, starting with over $8 billion. After a slow start, the firm has now surpassed expectations, with Gelband’s fixed-income expertise driving strong returns. The firm’s success can be attributed to its strategic hiring and leadership decisions.

The firm’s success can be attributed to its focus on fixed-income investments, with roughly 75% of its risk in this area. Gelband, the sole CIO, has hired top talent like Jon Hoffman to lead successful strategies. ExodusPoint has also adopted a cash hurdle for performance fees, lowering overall fees and boosting net returns.

ExodusPoint has strategically managed its growth, reducing staff slightly since 2022 and closing to new capital after raising $1 billion in 2023. The firm is not looking to expand into new strategies or markets. Gelband’s leadership and focus on fixed-income investments have been key to the firm’s success.

Read more at Yahoo Finance: Behind Michael Gelband and $11 billion hedge fund ExodusPoint’s strong year