Hedge Fund Arrowpoint Seeks $400 Million in New Money by March

Arrowpoint Investment Partners aims to raise as much as $400 million of fresh capital by the first quarter, as the multistrategy hedge fund firm expands the number of investment teams, said a person with knowledge of the matter.
The $1.2 billion firm, helmed by former Millennium Management Asia Co-Chief Executive Officer Jonathan Xiong , is accepting additional money for the first time since October. The extra capital from existing and new investors is expected to put it on course toward $2 billion of assets by the end of 2026, the person said, asking not to be identified discussing private information. It has received commitments to cover part of that amount.