Exhilway has exited hedge fund business by reassigning the operational rights to a large private investor group in Australia in lieu of market linked variable royalty, payable every year by the investor group.
Exhilway said that the deal will not result in any instantaneous cash flows for the firm.
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Exhilway is now looking to set up new market neutral, less risky hedge funds focusing on the emerging markets of Morocco, Hungary, India, Brazil and China along with the developed markets of United States and Europe.
Exhilway marked its exit to focus on better trading opportunities. The falling commissions and high performance pressure is another reason for the exit.
Exhilway revealed that now it plans to focus on investing in global indices and a few handpicked stocks with a focus on long term appreciation rather than mere trading.
Exhilway plans to launch several private equity funds, mutual funds and exchange traded funds to attract global investors.
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By GlobalDataAfter this deal, the global AUM of Exhilway has come down to US $21.70 million catering to less than 10 high net worth investors from UAE.
Exhilway plans to build an AUM of US$10 billion in the next three years. The firm which currently has over 160 employees, plans to double the headcount by the end of this year.
Exhilway may also replace Ajay Garg who is the current Global CEO.
