UBS AG’s hedge fund management unit decided to retreat from the business of financing corporate invoices after one major borrower filed for bankruptcy. Bobby Jain’s multi-manager fund stepped up to take its place.
Jain Global LLC joined a group of lenders late last year that provide the nuclear power plant unit of Westinghouse Electric Corp. with working capital financing, according to a regulatory filing at the time. It shows how Jain Global is diversifying its investing strategies after raising more than $5 billion in 2024, marking one of the hedge fund industry’s largest recent debuts.
Photo by Sarowar Hussain: https://www.pexels.com/photo/aerial-view-of-rooppur-nuclear-power-plant-bangladesh-33848674/