Jain Global may have generated subpar returns last year, but it is still hiring.
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Matt Wolcott joined hedge fund Jain Global as a portfolio manager in its commodities team in Houston last month. Wolcott last worked for Citadel, which he left in 2024 after working for Northville Industries, a petroleum storage company, where he was a refined products trader.
Jain declined to comment. Neither its Houston office nor its commodities trading team are new. The commodities team is headed up by ex-Macquarie oil trader David Hochberg. It’s hired a number of portfolio managers recently, including Jay McCall, Bruce Kish, and Yves Mindren.
Commodities trading was one of Jain’s initial seven strategies. While (Bobby) Jain said the fund was designed to easily scale, starting off as a “seven-legged stool” instead of adding new legs as it went along, it’s a bit much – most new hedge funds start with one or two.
As we noted earlier, Jain has posted low returns since formation. In 2025 it was up just 3.7% in its first full year of trading; compared to Citadel’s 10.2% in the same year. Of course, that 3.7% figure is Jain’s overall performance, and the commodities team may have done much better. Or worse. Maybe Wolcott was convinced by Jain’s mentoring offer.