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| website = {{URL|https://www.mlp.com}}
| website = {{URL|https://www.mlp.com}}
}}{{Redirect|Millennium Management|Millennium Management Group|Cannery Casino Resorts}}
}}{{Redirect|Millennium Management|Millennium Management Group|Cannery Casino Resorts}}
Millennium Management is a [[hedge fund]] and a multistrategy [[investment management]] firm, providing related services such as [[portfolio manager|portfolio management]], [[market research]] and [[stock brokerage|trading]].<ref name="NewYorkTimes2015December28StevensonAlexandra" /><ref name="InstitutionalInvestor2019April30TaubStephen">{{cite news|last1=Taub|first1=Stephen|title=The Rich List - What the world’s richest hedge fund managers made in 2018 — and how they made it.|url=https://www.institutionalinvestor.com/article/b1f61584d2sl0q/The-Rich-List|accessdate=3 May 2019|agency=Institutional Investor LLC|issue=Rich List|publisher=Institutional Investor|date=30 April 2019|location=United States|language=English}}</ref> It is one of the world's largest alternative asset management firms with $39 billion assets under management.<ref>{{Cite web|url=https://www.nasdaq.com/articles/hedge-fund-guru-israel-izzy-englander-takes-a-massive-bet-on-3-strong-buy-stocks-2019-12|title=Hedge Fund Guru Israel ‘Izzy’ Englander Takes a Massive Bet on 3 “Strong Buy” Stocks|last=TipRanks|first=Contributor Michael Marcus|website=www.nasdaq.com|language=en|access-date=2019-12-11}}</ref><ref>{{Cite web|url=https://www.forbes.com/pictures/5dcf3598ea103f0006528ac2/jesse-reinherz-29/|title=Jesse Reinherz, 29|website=Forbes|language=en|access-date=2019-12-11}}</ref><ref>{{Cite web|url=https://finance.yahoo.com/news/hedge-fund-guru-israel-izzy-150519226.html|title=Hedge Fund Guru Israel ‘Izzy’ Englander Takes a Massive Bet on 3 “Strong Buy” Stocks|website=finance.yahoo.com|language=en-US|access-date=2019-12-11}}</ref> The firm operates in America, Europe and Asia.<ref>{{Cite web|url=https://www.bloombergquint.com/business/hedge-funds-fight-for-asia-talent-by-boosting-bonuses-training|title=Hedge Funds Fight for Asia Talent With Bonuses, Training|website=BloombergQuint|language=en|access-date=2019-12-11}}</ref>
Millennium Management is a [[hedge fund]] and a multistrategy [[investment management]] firm, providing related services such as [[portfolio manager|portfolio management]], [[market research]] and [[stock brokerage|trading]].<ref name="NewYorkTimes2015December28StevensonAlexandra" /><ref name="InstitutionalInvestor2019April30TaubStephen">{{cite news|last1=Taub|first1=Stephen|title=The Rich List - What the world’s richest hedge fund managers made in 2018 — and how they made it.|url=https://www.institutionalinvestor.com/article/b1f61584d2sl0q/The-Rich-List|accessdate=3 May 2019|agency=Institutional Investor LLC|issue=Rich List|publisher=Institutional Investor|date=30 April 2019|location=United States|language=English}}</ref> It is one of the world's largest alternative asset management firms with $39 billion assets under management.<ref>{{Cite web|url=https://www.nasdaq.com/articles/hedge-fund-guru-israel-izzy-englander-takes-a-massive-bet-on-3-strong-buy-stocks-2019-12|title=Hedge Fund Guru Israel ‘Izzy’ Englander Takes a Massive Bet on 3 “Strong Buy” Stocks|last=TipRanks|first=Contributor Michael Marcus|website=www.nasdaq.com|language=en|access-date=2019-12-11}}</ref><ref>{{Cite web|url=https://www.forbes.com/pictures/5dcf3598ea103f0006528ac2/jesse-reinherz-29/|title=Jesse Reinherz, 29|website=Forbes|language=en|access-date=2019-12-11}}</ref><ref>{{Cite web|url=https://finance.yahoo.com/news/hedge-fund-guru-israel-izzy-150519226.html|title=Hedge Fund Guru Israel ‘Izzy’ Englander Takes a Massive Bet on 3 “Strong Buy” Stocks|website=finance.yahoo.com|language=en-US|access-date=2019-12-11}}</ref> The firm operates in [[United States|America]], [[Europe]] and [[Asia]].<ref>{{Cite web|url=https://www.bloombergquint.com/business/hedge-funds-fight-for-asia-talent-by-boosting-bonuses-training|title=Hedge Funds Fight for Asia Talent With Bonuses, Training|website=BloombergQuint|language=en|access-date=2019-12-11}}</ref>


== History ==
== History ==
[[Israel Englander|Israel A. Englander]] and Ronald Shear an acquaintance from the [[NYSE American|American Stock Exchange (AMEX)]] founded the firm in 1989 with $35 million.<ref name="InstitutionalInvestor2019April2TaubStephen" /><ref name="NewYorkTimes2011January11AhmedAzam">{{cite news|last1=Ahmed|first1=Azam|title=Millennium Hedge Fund Ends Year Up 13%|url=https://dealbook.nytimes.com/2011/01/11/millenium-hedge-fund-ends-year-up-13|accessdate=3 May 2019|agency=The New York Times Company|issue=DealBook|publisher=New York Times|date=11 January 2011|location=United States|language=English}}</ref> The initial $35 million consisted of $5 million from Englander and "$2 million from the Belzberg brothers, wealthy Canadian financiers."<ref name="InstitutionalInvestor2019April2TaubStephen" /> Millennium Management initially underperformed and founder Ronald Shear left the firm six months after founding it.<ref name="InstitutionalInvestor2019April2TaubStephen" />
[[Israel Englander|Israel A. Englander]] and Ronald Shear an acquaintance from the [[NYSE American|American Stock Exchange (AMEX)]] founded the firm in 1989 with $35 million.<ref name="InstitutionalInvestor2019April2TaubStephen" /><ref name="NewYorkTimes2011January11AhmedAzam">{{cite news|last1=Ahmed|first1=Azam|title=Millennium Hedge Fund Ends Year Up 13%|url=https://dealbook.nytimes.com/2011/01/11/millenium-hedge-fund-ends-year-up-13|accessdate=3 May 2019|agency=The New York Times Company|issue=DealBook|publisher=New York Times|date=11 January 2011|location=United States|language=English}}</ref> The initial $35 million consisted of $5 million from Englander and "$2 million from the Belzberg brothers, wealthy Canadian financiers."<ref name="InstitutionalInvestor2019April2TaubStephen" /> Millennium Management initially underperformed and co-founder Ronald Shear left the firm six months after founding it.<ref name="InstitutionalInvestor2019April2TaubStephen" />


In the spring of 2018, Millennium launched a joint venture with WorldQuant, a quantitative investment management firm.<ref>{{Cite web|url=https://www.ft.com/content/9fc450fc-478b-11e8-8ae9-4b5ddcca99b3|title=WorldQuant to launch its first fund open to outside investors|last=Wigglesworth|first=Robin|date=24 April 2018|website=www.ft.com|url-status=live|archive-url=|archive-date=|access-date=2019-12-11}}</ref>
In the spring of 2018, Millennium launched a joint venture with [[WorldQuant]], a [[Mathematical finance|quantitative investment]] management firm.<ref>{{Cite web|url=https://www.ft.com/content/9fc450fc-478b-11e8-8ae9-4b5ddcca99b3|title=WorldQuant to launch its first fund open to outside investors|last=Wigglesworth|first=Robin|date=24 April 2018|website=www.ft.com|url-status=live|archive-url=|archive-date=|access-date=2019-12-11}}</ref>


In 2019 it was reported that since its founding in 1989 Millennium Management had made $22.4 billion for its investors,<ref name="InstitutionalInvestor2019April2TaubStephen" /> an average of 14% annually since inception.<ref>{{Cite web|url=https://www.wsj.com/articles/stalwart-hedge-funds-test-their-clout-with-clients-1540897200|title=Stalwart Hedge Funds Test Their Clout With Clients|last=Chung|first=Juliet|website=WSJ|language=en-US|access-date=2019-12-11}}</ref>
In 2019 it was reported that since its founding in 1989 Millennium Management had made $22.4 billion for its investors,<ref name="InstitutionalInvestor2019April2TaubStephen" /> an average of 14% annually since inception.<ref>{{Cite web|url=https://www.wsj.com/articles/stalwart-hedge-funds-test-their-clout-with-clients-1540897200|title=Stalwart Hedge Funds Test Their Clout With Clients|last=Chung|first=Juliet|website=WSJ|language=en-US|access-date=2019-12-11}}</ref>
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==Corporate affairs==
==Corporate affairs==
===Employees===
===Employees===
In 2016 it was reported that Millennium Management had hired Robert Jain to join Israel Englander as co-CIO who at the time was the global head of Credit Suisse Asset Management the money management arm of Credit Suisse.<ref name="FinancialTimes2016March28WigglesworthRobin" />
In 2016 it was reported that Millennium Management had hired Robert Jain to join Israel Englander as co-CIO who at the time was the global head of [[Credit Suisse|Credit Suisse Asset Management]] the money management arm of Credit Suisse.<ref name="FinancialTimes2016March28WigglesworthRobin" />
==References==
==References==
{{Reflist|2}}
{{Reflist|2}}

Revision as of 12:02, 11 December 2019

Millennium Management, LLC
Company typePrivate company
IndustryInvestment management
Founded1989; 35 years ago (1989)[1]
FounderIsrael Englander
(1989 - present)[1]
Ronald Shear
(1989 - left after 6 months)[2]
Headquarters
New York[3]
,
U.S.
Key people
Israel Englander (Chairman,[1] co-CIO[4])
Robert Jain (co-CIO)[4]
John Anderson (co-head fixed income & commodities)[5]
Mark Tsesarsky (co-head fixed income & commodities)[5]
ProductsHedge fund[6]
AUMUS$39 billion (2019)
Number of employees
2,800[2] (2019[2])
Websitewww.mlp.com
"Millennium Management" redirects here. For Millennium Management Group, see Cannery Casino Resorts.

Millennium Management is a hedge fund and a multistrategy investment management firm, providing related services such as portfolio management, market research and trading.[6][7] It is one of the world's largest alternative asset management firms with $39 billion assets under management.[8][9][10] The firm operates in America, Europe and Asia.[11]

History

Israel A. Englander and Ronald Shear an acquaintance from the American Stock Exchange (AMEX) founded the firm in 1989 with $35 million.[2][12] The initial $35 million consisted of $5 million from Englander and "$2 million from the Belzberg brothers, wealthy Canadian financiers."[2] Millennium Management initially underperformed and co-founder Ronald Shear left the firm six months after founding it.[2]

In the spring of 2018, Millennium launched a joint venture with WorldQuant, a quantitative investment management firm.[13]

In 2019 it was reported that since its founding in 1989 Millennium Management had made $22.4 billion for its investors,[2] an average of 14% annually since inception.[14]

Millennium is structured with about 200 investment teams[2] with each portfolio manager allocated money “to deploy in a variety of trading strategies.”[15]

Corporate affairs

Employees

In 2016 it was reported that Millennium Management had hired Robert Jain to join Israel Englander as co-CIO who at the time was the global head of Credit Suisse Asset Management the money management arm of Credit Suisse.[4]

References

  1. ^ a b c Ahmed, Azam (5 July 2011). "Englander Said to Be Looking to Sell Millennium Stake". No. DealBook. United States: New York Times. The New York Times Company. Retrieved 3 May 2019.
  2. ^ a b c d e f g h Taub, Stephen (2 April 2019). "Izzy Englander's Big Payday". No. Corner Office. United States: Institutional Investor. Institutional Investor LLC. Retrieved 3 May 2019.
  3. ^ Ahmed, Azam (8 September 2011). "Millennium Attracts $4 Billion in New Money". No. DealBook. United States: New York Times. The New York Times Company. Retrieved 3 May 2019.
  4. ^ a b c Wigglesworth, Robin (28 March 2016). "Millennium taps Credit Suisse's Jain as co-CIO". United States: Financial Times. Nikkei. p. 11. Retrieved 7 May 2019.
  5. ^ a b Zuckerman, Gregory (2 May 2017). "Millennium taps Citi vet to help run fixed income". No. Investing/Securities. United States: MarketWatch. Dow Jones & Company Inc. Retrieved 8 May 2019.
  6. ^ a b Stevenson, Alexandra; Goldstein, Matthew (28 December 2015). "Hedge Funds Struggle With Steep Losses and High Expectations". No. DealBook. United States: New York Times. The New York Times Company. p. B1. Retrieved 3 May 2019.
  7. ^ Taub, Stephen (30 April 2019). "The Rich List - What the world's richest hedge fund managers made in 2018 — and how they made it". No. Rich List. United States: Institutional Investor. Institutional Investor LLC. Retrieved 3 May 2019.
  8. ^ TipRanks, Contributor Michael Marcus. "Hedge Fund Guru Israel 'Izzy' Englander Takes a Massive Bet on 3 "Strong Buy" Stocks". www.nasdaq.com. Retrieved 2019-12-11. {{cite web}}: |first= has generic name (help)
  9. ^ "Jesse Reinherz, 29". Forbes. Retrieved 2019-12-11.
  10. ^ "Hedge Fund Guru Israel 'Izzy' Englander Takes a Massive Bet on 3 "Strong Buy" Stocks". finance.yahoo.com. Retrieved 2019-12-11.
  11. ^ "Hedge Funds Fight for Asia Talent With Bonuses, Training". BloombergQuint. Retrieved 2019-12-11.
  12. ^ Ahmed, Azam (11 January 2011). "Millennium Hedge Fund Ends Year Up 13%". No. DealBook. United States: New York Times. The New York Times Company. Retrieved 3 May 2019.
  13. ^ Wigglesworth, Robin (24 April 2018). "WorldQuant to launch its first fund open to outside investors". www.ft.com. Retrieved 2019-12-11.{{cite web}}: CS1 maint: url-status (link)
  14. ^ Chung, Juliet. "Stalwart Hedge Funds Test Their Clout With Clients". WSJ. Retrieved 2019-12-11.
  15. ^ Raghavan, Anita (10 March 2015). "Hedge Funds Recorded Strong Recovery in 2014". No. DealBook. United States: New York Times. The New York Times Company. Retrieved 3 May 2019.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Millennium_Management,_LLC&oldid=930280605"