Millennium Management Advances Minority Stake Sale Talks

Millennium Management, a $75 billion hedge fund led by Izzy Englander, is in advanced talks to sell a 10-15% minority stake in its management company, valuing the firm at around $14 billion. Goldman Sachs' Petershill Partners is facilitating the sale, targeting institutional investors and Millennium's largest limited partners. This marks the first time Millennium is opening its ownership to external capital, as part of efforts to institutionalize its operations and ensure leadership continuity beyond Englander. The firm is also planning to distribute equity to top executives internally and is holding separate discussions with BlackRock for a potential strategic partnership. Founded in 1989, Millennium has reported a 15.1% gain in 2024 and an annualized return of 14% since inception. These steps position Millennium among the world's highest-valued hedge funds and reflect its ongoing focus on longevity and leadership succession.