Bobby Jain, the CEO and CIO of Jain Global, has spent much of his career inside some of the biggest names in finance from Credit Suisse to Millennium before striking out to build his own hedge fund. Now, he has gone back into a partnership with Millennium and says his decision signals where hedge funds are heading.   

In an exclusive interview with Bloomberg's Nishant Kumar, Jain explains what was he trying to build and why scale matters more than ever. He talks about how AI could accelerate consolidation, the math behind multistrategy hedge fund giants and the fees they charge, the rise of SMAs, the fierce war for talent and his ideal trader. Jain also discusses his childhood in Queens, his love of reading and what he wants to build over the next decade.