• Latest
  • Trending
  • All
  • Market Updates
  • Cryptocurrency
  • Blockchain
  • Investing
  • Commodities
  • Personal Finance
  • Technology
  • Business
  • Real Estate
  • Finance
Hedge fund Millennium valued at $14bn in minority stake sale talks

Hedge fund Millennium valued at $14bn in minority stake sale talks

June 17, 2025
BlackRock’s big bet on private assets

BlackRock’s big bet on private assets

July 9, 2025
US copper prices rise to record high as Donald Trump threatens 50% tariff

US copper prices rise to record high as Donald Trump threatens 50% tariff

July 9, 2025
Robinhood CEO Defends OpenAI Token Offering After Firm’s Warning, EU Scrutiny

Robinhood CEO Defends OpenAI Token Offering After Firm’s Warning, EU Scrutiny

July 9, 2025
Stocks making the biggest moves midday: HSY, CC, FICO, RUN

Stocks making the biggest moves midday: HSY, CC, FICO, RUN

July 8, 2025
$31B Stablecoin Balance At Binance Points To Altcoin Season

$31B Stablecoin Balance At Binance Points To Altcoin Season

July 8, 2025
As AI use expands, platforms like Brain Max seek to simplify cross-app integration

As AI use expands, platforms like Brain Max seek to simplify cross-app integration

July 8, 2025
Answers To Your Individual Tax Questions About The One Big Beautiful Bill Act

Answers To Your Individual Tax Questions About The One Big Beautiful Bill Act

July 8, 2025
RBA Governor Bullock discusses policy outlook after the surprise interest rate-hold

RBA Governor Bullock discusses policy outlook after the surprise interest rate-hold

July 8, 2025
UK officials hopeful steel industry will avoid 50% US tariff

UK officials hopeful steel industry will avoid 50% US tariff

July 8, 2025
The Hong Kong stock market’s tentative revival

The Hong Kong stock market’s tentative revival

July 8, 2025
Lutnick expects another 15-20 tariff letters to go out over the next two days

Lutnick expects another 15-20 tariff letters to go out over the next two days

July 8, 2025
Will 600K Bitcoin Be The Tipping Point? Saylor’s Strategy Sparks Institutional Wave

Will 600K Bitcoin Be The Tipping Point? Saylor’s Strategy Sparks Institutional Wave

July 8, 2025
Wednesday, July 9, 2025
No Result
View All Result
InvestorNewsToday.com
  • Home
  • Market
  • Business
  • Finance
  • Investing
  • Real Estate
  • Commodities
  • Crypto
  • Blockchain
  • Personal Finance
  • Tech
InvestorNewsToday.com
No Result
View All Result
Home Investing

Hedge fund Millennium valued at $14bn in minority stake sale talks

by Investor News Today
June 17, 2025
in Investing
0
Hedge fund Millennium valued at $14bn in minority stake sale talks
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Unlock the Editor’s Digest free of charge

Roula Khalaf, Editor of the FT, selects her favorite tales on this weekly e-newsletter.

Millennium Administration, one of many world’s largest hedge funds, is in talks about promoting a minority stake to exterior traders at a $14bn valuation, because it presses forward with plans to open up its possession for the primary time.

Individuals aware of the discussions mentioned that Millennium was working with Goldman Sachs’ Petershill Companions to determine potential consumers for a 10-15 per cent fairness stake in Millennium’s administration firm. It’s the first time a proper valuation has been placed on the hedge fund.

Petershill, which is operated by Goldman, buys minority stakes in various funding companies and is concentrating on each its personal shoppers and the most important traders in Millennium’s fund with the deal.

The deal would safe Millennium one of many high valuations of any hedge fund supervisor, in line with two individuals aware of the scenario.

Millennium and Petershill declined to remark.

New York-based Millennium, which has greater than $75bn in property beneath administration, is considered one of a choose group of hedge fund giants that operates throughout asset courses.

The so-called multi-manager has greater than 320 funding groups investing inside a decent danger framework, and competes with the likes of Ken Griffin’s Citadel and Steve Cohen’s Point72.

The discussions with exterior traders come as Millennium is engaged on a plan to open up the possession of the administration firm to its high executives for the primary time by distributing fairness to its key individuals.

Millennium can be speaking to BlackRock a few strategic partnership that might result in the world’s largest asset supervisor taking a small fairness stake.

In recent times, its septuagenarian founder, Izzy Englander, who has saved sole possession of Millennium for its 36-year historical past, has taken a number of steps to institutionalise the enterprise and put together it for all times with out him. 

Millennium has secured its capital base by transferring the overwhelming majority of traders right into a long-term share class, growing the time it takes them to exit their funding with the hedge fund from one yr to 5.

Englander has additionally constructed out Millennium’s management crew with a collection of senior hires from Goldman Sachs, explored diversifying the enterprise with new methods, and altered its payment construction in order that traders at the moment are required to pay a minimal payment whatever the fund’s efficiency.

Annual charges, on high of bills, at the moment are about 1 per cent of property or 20 per cent of funding positive aspects, one thing bankers described as akin to a administration payment. 

Hedge funds are sometimes valued on the idea of their administration charges — round 1-2 per cent of total property — and the efficiency charges they generate. Administration charges are seen as extra predictable revenues and are ascribed the next valuation by the market than generally unstable efficiency charges. 

Really useful

A cube bearing the logo of the London Stock Exchange hangs in the atrium of the company’s building

An adviser to non-public capital teams mentioned that multi-manager hedge funds — even these resembling Millennium with capital that has been locked up for a number of years — sometimes obtain a decrease a number of on their administration charges than the a number of for the administration charges of personal fairness companies. Additionally they normally have decrease efficiency charges. 

“Should you put all of it collectively, it’s a considerably decrease a number of enterprise than a well-established non-public fairness agency,” they mentioned. “However traders may nonetheless be enamoured with the model.”

The adviser mentioned that “the publicly listed non-public fairness companies commerce for mid-teens to low 20s a number of of money movement. A hedge fund can be considerably lower than that.” 

Millennium’s flagship fund gained 15.1 per cent final yr and is up about 0.4 per cent this yr via Could, traders mentioned. It has recorded annualised positive aspects of about 14 per cent since inception.

Extra reporting by Antoine Gara in New York



Source link

Tags: 14bnFundHedgeMillenniumminoritysalestaketalksvalued
Share196Tweet123
Previous Post

Altcoin season on the brink? Experts flag Cardano’s $100M BTC treasury shift

Next Post

Metro’s ex-senior managers were responsible for accounting error, tribunal says

Investor News Today

Investor News Today

Next Post
Metro’s ex-senior managers were responsible for accounting error, tribunal says

Metro’s ex-senior managers were responsible for accounting error, tribunal says

  • Trending
  • Comments
  • Latest
Equinor scales back renewables push 7 years after ditching ‘oil’ from its name

Equinor scales back renewables push 7 years after ditching ‘oil’ from its name

February 5, 2025
Niels Troost has a staggering story to tell about how he got sanctioned

Niels Troost has a staggering story to tell about how he got sanctioned

December 14, 2024
Best High-Yield Savings Accounts & Rates for January 2025

Best High-Yield Savings Accounts & Rates for January 2025

January 3, 2025
Suleiman Levels limited V 3.00 Update and Offer – Analytics & Forecasts – 5 January 2025

Suleiman Levels limited V 3.00 Update and Offer – Analytics & Forecasts – 5 January 2025

January 5, 2025
Why America’s economy is soaring ahead of its rivals

Why America’s economy is soaring ahead of its rivals

0
Dollar climbs after Donald Trump’s Brics tariff threat and French political woes

Dollar climbs after Donald Trump’s Brics tariff threat and French political woes

0
Nato chief Mark Rutte’s warning to Trump

Nato chief Mark Rutte’s warning to Trump

0
Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’

Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’

0
BlackRock’s big bet on private assets

BlackRock’s big bet on private assets

July 9, 2025
US copper prices rise to record high as Donald Trump threatens 50% tariff

US copper prices rise to record high as Donald Trump threatens 50% tariff

July 9, 2025
Robinhood CEO Defends OpenAI Token Offering After Firm’s Warning, EU Scrutiny

Robinhood CEO Defends OpenAI Token Offering After Firm’s Warning, EU Scrutiny

July 9, 2025
Stocks making the biggest moves midday: HSY, CC, FICO, RUN

Stocks making the biggest moves midday: HSY, CC, FICO, RUN

July 8, 2025

Live Prices

© 2024 Investor News Today

No Result
View All Result
  • Home
  • Market
  • Business
  • Finance
  • Investing
  • Real Estate
  • Commodities
  • Crypto
  • Blockchain
  • Personal Finance
  • Tech

© 2024 Investor News Today