Tudor's Xantium plans $9 billion spinout in 2027

Xantium, the quantitative hedge fund inside Paul Tudor Jones' Tudor Investment Corporation, plans to spin out in the first half of 2027 with roughly $9 billion in investor assets, according to a Financial Times report cited by Hedgeweek.

The separation would be the largest hedge fund spinout on record, exceeding Systematica's $8.4 billion exit from BlueCrest in 2015. It would also top the $5 billion launch of Diego Megia's Taula Capital after his departure from Millennium Management in 2024.

For allocators in Xantium's multi-asset fund, the move changes the manager from a Tudor unit to a standalone firm, along with the oversight, infrastructure and capital commitment that come from the parent. It remains unclear whether Tudor will retain an equity stake.

Most of the $9 billion is external investor money, with the remainder supplied by Tudor, senior management and employees, according to the report. Xantium is expected to launch independently with Tudor's backing.

Founded within Tudor in 2019 by Oliver Watson and Sergey Levin, former quantitative specialists at D.E. Shaw, Xantium employs around 300 people. It runs a single multi-asset fund trading equities, commodities, fixed income and foreign exchange, with systematic models accounting for the majority of portfolio risk. Operations span London, New York, Salt Lake City and Abu Dhabi.