Jain Capital, the yet to debut hedge fund founded by Bobby Jain, is all set to go on a hiring spree ahead of a "monster", and largest ever hedge fund launch, according to a report by The Business Wire.

Jain has been filling out his executive and leadership stable since July, when his exit agreement prohibiting him from hiring ran dry. He's landed executives from an array of backgrounds, including hedge funds like Viking Global, Citadel, and Elliott Management, and banks like Bank of America, Barclays, and Morgan Stanley, the report noted.

Jain is expected to start trading with investor money in July 2024. But its recruitment of portfolio managers and other investment talent is already underway and will only ramp up from here, especially as industry noncompetes now typically exceed six months and can last as long as two years in some strategies, according to hedge fund the report observed.

Jain could hire as many as 70 investment teams once fully deployed, and he's targeting 15 to 20 portfolio managers for his top strategy, fundamental equities, the report cited an investor document as saying so.

Townie Wells, a former PM at Citadel's Ashler Capital, is CIO of equities in the Americas, and Paul Enright, a former Viking senior portfolio manager, has joined as chairman of the unit. Adam Wangner recently joined as global head of linear equity risk and will straddle several equity strategies. He was previously a PM and head of central risk management at a multi-strategy fund within Morgan Stanley Asset Management.