Viking, Elliott and Jain Global are among firms scouring private-wealth networks for fresh cash.
Glen Kacher's Light Street climbed 54.6% in the first half.
The fund will bet on and against AI hardware and semiconductor companies globally.
Hedge fund fees have frustrated investors for years.
Weiss Multi-Strategy Advisers collapsed after years of high spending.
Ackman collected $610 million last year, while Izzy Englander and Ken Griffin topped Bloomberg's annual ranking.
Fund clients pulled $280 billion in 2023, a Goldman report found.
Regulators warn the firms could destabilize Treasury markets.
Markets have remained relatively calm despite the geopolitical chaos of recent weeks, he said.
Two Sigma said the researcher circumvented its models.