Millennium Management is an
investment management
Investment management (sometimes referred to more generally as financial asset management) is the professional asset management of various Security (finance), securities, including shareholdings, Bond (finance), bonds, and other assets, such as r ...
firm with a multistrategy
hedge fund
A hedge fund is a Pooling (resource management), pooled investment fund that holds Market liquidity, liquid assets and that makes use of complex trader (finance), trading and risk management techniques to aim to improve investment performance and ...
offering.
It is one of the world's largest alternative asset management firms with over $70.2 billion assets under management as of October 2024. The firm operates in
America
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...
,
Europe
Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south, and Asia to the east ...
and
Asia
Asia ( , ) is the largest continent in the world by both land area and population. It covers an area of more than 44 million square kilometres, about 30% of Earth's total land area and 8% of Earth's total surface area. The continent, which ...
.
As of 2022, Millennium had posted the fourth highest net gains of any hedge fund since its inception in 1989.
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 2016, Millennium hired Bobby Jain, then global head of
Credit Suisse Asset Management, to join Israel Englander as co-CIO.
Jain left Millennium in June 2023.
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
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 18 primary offices including regional offices in
London
London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...
, Dubai,
Singapore
Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...
,
Miami
Miami is a East Coast of the United States, coastal city in the U.S. state of Florida and the county seat of Miami-Dade County, Florida, Miami-Dade County in South Florida. It is the core of the Miami metropolitan area, which, with a populat ...
,
Bengaluru
Bengaluru, also known as Bangalore (List of renamed places in India#Karnataka, its official name until 1 November 2014), is the Capital city, capital and largest city of the southern States and union territories of India, Indian state of Kar ...
,
Tel Aviv
Tel Aviv-Yafo ( or , ; ), sometimes rendered as Tel Aviv-Jaffa, and usually referred to as just Tel Aviv, is the most populous city in the Gush Dan metropolitan area of Israel. Located on the Israeli Mediterranean coastline and with a popula ...
,
Tokyo
Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...
,
Dublin
Dublin is the capital and largest city of Republic of Ireland, Ireland. Situated on Dublin Bay at the mouth of the River Liffey, it is in the Provinces of Ireland, province of Leinster, and is bordered on the south by the Dublin Mountains, pa ...
,
Greenwich
Greenwich ( , , ) is an List of areas of London, area in south-east London, England, within the Ceremonial counties of England, ceremonial county of Greater London, east-south-east of Charing Cross.
Greenwich is notable for its maritime hi ...
,
Geneva
Geneva ( , ; ) ; ; . is the List of cities in Switzerland, second-most populous city in Switzerland and the most populous in French-speaking Romandy. Situated in the southwest of the country, where the Rhône exits Lake Geneva, it is the ca ...
,
Zug
Zug (Standard German: , Alemannic German: ; ; ; ; )Named in the 16th century. is the largest List of cities in Switzerland, town and capital of the Swiss canton of Zug. Zug is renowned as a hub for some of the wealthiest individuals in the wor ...
and
Paris
Paris () is the Capital city, capital and List of communes in France with over 20,000 inhabitants, largest city of France. With an estimated population of 2,048,472 residents in January 2025 in an area of more than , Paris is the List of ci ...
, with its principal office in
New York
New York most commonly refers to:
* New York (state), a state in the northeastern United States
* New York City, the most populous city in the United States, located in the state of New York
New York may also refer to:
Places United Kingdom
* ...
, in addition to operating additional offices in locations around the world.
References
{{Hedge funds
Hedge fund firms in New York City
Financial services companies established in 1989
1989 establishments in Connecticut
Privately held companies of the United States
Investment companies based in New York City
Asset management companies