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Izzy Englander’s hedge fund, Millennium Management, rose 2.5% in December and is on track to return 15% in 2024, investors said.
The firm is one of the most well-known multi-manager hedge funds, managing $72.1 billion across more than 320 investment teams and trading a variety of strategies.
Multi-manager hedge funds typically organize traders across a variety of asset classes, all managed by a centralized risk system designed to protect against large losses.
Mr. Englander still owns 100% of Millennium, which he founded in 1989 with just $35 million in assets. Millennium and Ken Griffin’s Citadel are pioneers of multi-manager funds and have become one of the fastest growing corners of the $4.5 trillion hedge fund industry in recent years.
Millennium’s profits last year fell short of the S&P 500, an index of blue-chip U.S. companies, which rose 23% on the back of big gains in some tech companies.
Millennium declined to comment.