Does the World Need Another Multi-Strategy Fund?

Launching a multi-strategy hedge fund has never been tougher. Giants such as Millennium, Point72 and Citadel dominate the space, while spiraling pay and a fierce "war for talent" have pushed entry barriers higher than ever. So why leave a top role at one of the world’s biggest funds to start a rival? Jonathan Xiong, CEO & CIO of Arrowpoint Investment Partners and former co-CEO of Millennium in Asia, joins John Lee on the Asia Centric podcast to answer that question. With more than $1.5 billion in assets and growing, Arrowpoint is one of the most significant launches out of the region in recent years. Xiong discusses the difficulties of starting a multi-strategy fund, the hidden dangers of the "cost pass-through" model, and how he stood out from the crowd by identifying a unique gap in the Asian market. This episode was recorded in December 2025. See omnystudio.com/listener for privacy information.