Inside the sprawling network of hedge fund spinoffs from Israel Englander’s Millennium Management

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

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 structure, 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. 

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

According to a Business Insider review of LinkedIn, media reports, and industry sources, more than 70 former employees of Englander have launched their own funds across the globe. 

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https://markets.businessinsider.com/news/stocks/list-hedge-fund-spinoffs-izzy-englander-millennium-teaser-2020-10-1029694387

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