Reported about 1 year ago
Aaron Weiner from Coatue Management is leaving to launch his own hedge fund with support from Izzy Englander's Millennium Management. Weiner will receive multiple billions of dollars to start trading exclusively for Millennium, which manages about $68 billion. This move reflects a trend in multistrategy hedge funds forming partnerships with internal and external traders to expand their talent pool. Other firms such as Point72 Asset Management and BlueCrest Capital Management have also provided funds to external teams through managed accounts. Weiner, formerly at Coatue working on healthcare investments, will now venture into managing his own hedge fund with substantial backing from Millennium and others.
Source: YAHOO