Inside the sprawling network of hedge fund spin-offs from Israel Englander’s Millennium Management

One could argue that Millennium Management’s greatest advantage over other hedge funds is its ability to keep talented people in-house.



Israel Englander wearing a suit and tie: More than 70 former employees of Englander have launched their own funds across the globe. Phil McCarten/REUTERS


© Phil McCarten/REUTERS
More than 70 former employees of Englander have launched their own funds across the globe. Phil McCarten/REUTERS

The massive hedge fund — which manages some $46 billion in assets across hundreds of teams — has a unique structure that lets portfolio managers operate in independent silos. The setup, which is grants PMs even more autonomy than fellow multi-strategy funds though with tight risk and loss parameters, helps billionaire founder Israel Englander convince staffers who might leave a more traditional fund to stay in-house — and recruit top talent into his firm. 

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However, despite that and given he launched the firm over 30 years ago, Englander has sprouted a network of hedge funds.

According to a Business Insider review of LinkedIn, media reports, and industry sources,

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