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Millennium Is Said to Back Hedge Fund Led by Javier Velazquez

Izzy Englander’s Millennium Management is backing a new hedge-fund startup run by portfolio manager Javier Velazquez, according to four people familiar with the matter.

The fund will be London-based and follow a long-short equity strategy, said the people, asking not to be identified because the information is private. The people wouldn’t confirm the size of the fund, Millennium’s investment or when the product will launch. Velazquez declined to comment, as did a spokesman for Millennium.