Millennium Management is an investment management firm with a multistrategy hedge fund offering. It is one of the world's largest alternative asset management firms with over $50 billion assets under management. The firm operates in

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and

Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an area ...

History

Israel A. Englander and Ronald Shear, an acquaintance from the American Stock Exchange (AMEX), founded the firm in 1989 with $35 million. The initial $35 million consisted of $5 million from Englander and "$2 million from the Belzberg brothers, wealthy Canadian financiers." Millennium Management initially underperformed and co-founder Ronald Shear left the firm six months after founding it. In the spring of 2018, Millennium launched a joint venture with WorldQuant, a quantitative investment management firm. In 2019 London-based investment firm LCH Investment ranked Millennium Management 12th on their ranking of most successful hedge funds of all time reporting that since its founding in 1989 the firm had made $22.4 billion for its investors, an average of 14% annually since inception. In 2019 the company raised $4.1 billion after a two-year hiatus from raising new capital. The company expects to have raised $7.1 billion by March 2020 and manages a total of nearly $50 billion in capital. The company ended the year 2020 with 265 portfolio manager teams, the most in its history. As of February 2020 Millennium managed over 2,000 data sets from close to 400 providers, for a total of about 10 trillion records of data and over 2,000 terabytes of compressed stored data.

Company

Employees

Israel Englander ''(see main article Israel Englander)'' Israel Englander is the co-CEO and founder of Millennium Management. He began trading stocks while still in high school, and founded his first company in 1977, I.A. Englander & Company, which is still trading stocks and bonds. Bobby Jain - In 2016, Millennium Management hired Bobby Jain to join Israel Englander as co-CIO. He was then global head of Credit Suisse Asset Management, the money management arm of Credit Suisse.

Investment team structure

The company has a ''platform model'' of investing made up of approximately 280 investment teams with each portfolio manager allocated money "to deploy in a variety of trading strategies."

Locations

The company has regional offices in

London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, bo ...

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

Tokyo Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and List of cities in Japan, largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, ...

Greenwich Greenwich ( , ,) is a town in south-east London, England, within the ceremonial county of Greater London. It is situated east-southeast of Charing Cross. Greenwich is notable for its maritime history and for giving its name to the Greenwi ...

and

Geneva Geneva ( ; french: Genève ) frp, Genèva ; german: link=no, Genf ; it, Ginevra ; rm, Genevra is the List of cities in Switzerland, second-most populous city in Switzerland (after Zürich) and the most populous city of Romandy, the French-speaki ...

, with its principal office in

New York New York most commonly refers to: * New York City, the most populous city in the United States, located in the state of New York * New York (state), a state in the northeastern United States New York may also refer to: Film and television * ...

, in addition to operating smaller offices in locations around the world.

References

{{Hedge funds Hedge fund firms of the United States Hedge fund firms in New York City Financial services companies established in 1989 1989 establishments in Connecticut Hedge funds Privately held companies of the United States Investment companies based in New York City