Millennium Management, one of the world’s largest hedge fund managers,
is considering launching a standalone fund to invest in less liquid assets, including private credit, according to people familiar with the situation.
Such a move would mark the first time since it began trading 35 years ago that Izzy Englander’s group has launched a new fund. It reflects how the $69.5bn firm has grown in scale and views opportunities in this part of the market.
New York-based Millennium has more than 330 investment teams operating within strict risk controls. Its existing fund, which is up 9.5 per cent this year through September, trades fundamental equity, equity arbitrage, fixed income, commodities and quantitative strategies in liquid markets.
Millennium declined to comment.
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