Millennium Management is raising $5 billion in a new fund to invest in private market opportunities, extending the firm’s reach beyond its core business of trading mostly liquid assets.
The multistrategy hedge fund giant is in talks with investors to raise $3 billion, with the rest coming from the firm and its billionaire founder, Izzy Englander, according to people with knowledge of the matter. Millennium aims to launch the fund early next year, the people said, asking not to be identified because the details are private.