Four firms are on track to exceed $1 billion.
Since the epidemic, the largest new hedge funds have raised more capital than ever before, and the 2024 crop may contain one of the largest startups in recent memory.
By the end of the year, at least four new companies will have earned more than $1 billion, bringing in a total of at least $6.5 billion from investors.
Next year promises to be even bigger.
Twelve businesses raised at least $1 billion apiece in 2005, totaling roughly $19 billion; only two companies achieved that feat in 2016, raising a combined $4.5 billion.
The market is currently experiencing some growth, which is positive, according to Barsam Bakari, head of sales at Jefferies Financial Group Inc.
Lakani noted that while financing is more challenging now than it was in the years preceding the 2008 financial crisis, fewer businesses are starting with at least $1 billion.