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Millennium Management nears $100bn as new commitments set to arrive

Millennium expects to receive $22bn in investor commitments on 1 October, with only $2bn called immediately.

Reported · Written up by our desk · Hedge Funds

Millennium Management is nearing a $100bn asset milestone as founder Izzy Englander continues to expand the multi-strategy hedge fund’s capital base, with the firm managing about $97bn, according to Hedgeweek, citing a Bloomberg report.

The report says Millennium is preparing to receive a further $22bn in investor commitments on 1 October, though only $2bn will be called right away. The remainder would be available for deployment over the following four years.

Hedgeweek also reports that Millennium is discussing a potential $3bn raise for a less-liquid credit strategy. It notes that if the firm keeps generating annual returns of around 10% or more while attracting more capital, assets could potentially exceed $130bn in the coming years.

The growth would place Millennium among a relatively small group of hedge fund managers operating at unprecedented scale, with other large firms including AQR Capital Management at more than $140bn and DE Shaw at roughly $90bn, according to the report. Hedgeweek adds that some institutional investors have raised concerns that large, diversified multi-strategy platforms could face similar market conditions and cut risk at the same time during stress, potentially amplifying market moves.

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