Reported 11 months ago
Millennium Management, a multistrategy hedge fund, is in discussions to raise a substantial amount of new capital, approximately 10% of its $68 billion in assets. The firm aims to create a draw-down fund through investor commitments, allowing them to access the funds when needed. This move comes as Millennium seeks more stable capital to attract and retain investment professionals while managing market uncertainties. The cash raised will be invested in a longer-term share class, with a redemption period of five years. Despite challenges in the hedge-fund industry, Millennium Management has been strategic in its capital management, returning a significant portion to investors in a controlled manner.
Source: YAHOO