(Bloomberg) -- Scott Bessent, who oversaw George Soros’s $30 billion fortune for the last four years, will be managing $4.5 billion by the end of the first quarter, one of the largest hedge fund startups ever.

Bessent, 53, began trading $2 billion from his former employer this week at Key Square Group, a macro fund that chases economic trends by trading stocks, bonds, currencies and commodities. The firm, which capped initial assets at $4.5 billion, raised most of the balance from fewer than 10 institutions and had to turn away some money, according to people with knowledge of the firm.

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