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MILLENNIUM MANAGEMENT LLC

13F
MILLENNIUM MANAGEMENT LLC
Last update 2024-02-16 5878 Stocks (482 new)
Value $228.29 Bil Turnover 14 %
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MILLENNIUM MANAGEMENT LLC Profile

Millennium Management LLC is a privately owned hedge fund sponsor that was founded in 1989 by Israel Englander and Ronald Shear. The company started out with $35 million in seed money. However, the firm began with a rough start, prompting Shear to leave in 1990. Englander would then turn Millennium Management around, turning it into a large enterprise through investment strategies that utilized statistical arbitrage, fundamental long short pairing, merger arbitrage, and convertible arbitrage. The 1990s would see the company grow and transition into a “sustainable and advanced investment platform capable of attracting and retaining the world’s top trading talent.” The company today has largely kept to its original functions, launching and managing hedge funds for its clients. Millennium Management invests in public equity and fixed income markets on a global scale, emphasizing a focus on liquid asset classes. The company seeks to achieve absolute returns to prioritize capital preservation, seeking opportunities in diversified portfolios while minimizing risk. Its investment strategy is broadly diversified, global in scope, and opportunistic,” focusing on the strategies that Englander originally developed that helped the company get past its rough start. The company does not make firm-wide concentrated investments but have its operating trading teams each focus on specialized opportunities and strategies. However, although each trading team has a great deal of autonomy, the executive team and risk management teams oversee certain concentrations and allocations. As of 2015, the company has more than 1650 employees spread across its offices in its headquarters of New York City and other office locations in Old Greenwich, London, and Paris. The company has recently crossed the $30 billion mark in total assets under management. The executive team consists of 18 members that have an average of approximately 25 years of experience each with Israel Englander, the founder, acting as the current CEO.
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