A hedge fund within US investment firm Tudor is planning to launch as an independent firm with $9bn in investor assets, in what is thought to be the biggest so‑called spinout in the sector’s history.
Quant‑focused Xantium, employing about 300 people, will formally leave the company controlled by billionaire Paul Tudor Jones II in the first half of 2026, according to Costas Mourselas in London. The firm was founded in 2019 by partners Oliver Watson and Sergey Levin, former senior quants at DE Shaw, and will set up independently with capital from its parent, though it is unclear if Tudor will hold an equity stake.
The largest spinout to date is Systematica, which separated from Blue Crest in 2015 with $8.4bn assets, while Taula Capital’s recent launch raised $5bn. If Xantium proceeds as planned, it will surpass Systematica as the biggest spinout.
Insurers are also boosting allocations to private markets, with about three‑quarters planning to raise their exposure over the next year, a decline from 94 % the prior year but still strong. Demand for private credit remains robust, with 41 % of respondents intending to increase private debt allocations, as yields on government bonds have risen to levels not seen in decades.
Source: Financial Times Companies · Summarized by HeadlinesBriefing