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Millennium Management, LLC

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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]

History

Israel A. Englander and Ronald Shear an acquaintance from the American Stock Exchange (AMEX) founded the firm in 1989 with $35 million.[2][11] 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 founder Ronald Shear left the firm six months after founding it.[2]

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.[12]

Millennium is structured with about 200 investment teams[2] with each portfolio manager allocated money “to deploy in a variety of trading strategies.”[13]

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. ^ 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.
  12. ^ Chung, Juliet. "Stalwart Hedge Funds Test Their Clout With Clients". WSJ. Retrieved 2019-12-11.
  13. ^ 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.
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