Elliott Investment Management, the $76bn multi-strategy hedge fund led by billionaire Paul Singer, is raising up to $7bn in a new drawdown vehicle, underscoring the firm’s readiness to deploy capital across opportunistic trades, according to a report by Bloomberg.
The fresh fundraising round will operate on a private equity-style capital call basis, allowing Elliott to invest gradually as opportunities emerge. The vehicle marks the fund’s 11th drawdown structure, with roughly $2bn remaining from a similar $7bn raise in 2023. A representative for the Florida-headquartered firm declined to comment.
The move comes as many of the largest multi-strategy hedge funds remain closed to new capital, or even return cash to investors to avoid over-expansion. Elliott, like peers such as DE Shaw, continues to attract investors seeking steady, multi-asset returns, thanks to its ability to deploy multiple portfolio managers across equities, bonds, distressed companies, and activist campaigns.
Since its founding in 1977, Elliott has posted double-digit average annual returns, punctuated by only two down years. Its strategy spans everything from distressed corporate assets to sovereign debt, with activist interventions that frequently unsettle executives and governments alike.
