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ExodusPoint plans near-80% Asia workforce jump after Ovata hires
The expansion includes office leases sized for up to 180 employees across Hong Kong, Singapore, and Tokyo by end-2026, alongside the move of a team and the winding down of Ovata’s $1.5 billion hedge fund.
ExodusPoint Capital Management is set to expand its Asian operations, with plans to increase its regional workforce by almost 80% this year after recruiting a team from Ovata Capital Management, Hedgeweek reported, citing Bloomberg.
The multi-strategy hedge fund expects to reach about 100 employees across Hong Kong, Singapore, and Tokyo by the end of 2026, up from 56 at the beginning of the year. The firm has also secured more than 20,000 square feet of office space across the three locations, which it says can support up to 180 employees as it builds out its regional platform.
A central part of the plan is the arrival of James Chen, formerly Ovata’s chief investment officer, who will join ExodusPoint as head of Asia equities after winding down Ovata’s $1.5 billion hedge fund under an agreement announced in June. The move brings 36 former Ovata employees into ExodusPoint’s Asian operation, raising the number of lead portfolio managers in the region to 14, with Chen overseeing Asia equities and Steve Ji Xu leading the macro business.
ExodusPoint also highlighted the scale of its property commitments: in Hong Kong it is expanding its office space at Prosperity Tower in Central to 11,000 square feet through September 2029, while in Singapore it is increasing its footprint at Ocean Financial Centre by almost 70% to 9,200 square feet, with the Singapore lease running until mid-2032.