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Millennium Returns $15 Billion, Cementing Move to Long-Term Cash

  • Clients must wait at least five years to redeem all capital
  • Izzy Englander’s flagship fund returned 9.7% through September
Izzy Englander

Izzy Englander

Photographer: Ronda Churchill/Bloomberg

Izzy Englander’s Millennium Management is returning another $15 billion to investors at year-end, completing its plan to lock up client capital for longer.

The money is coming from a share class that can be redeemed in full over a year, according to people who asked not to be identified because the move hasn’t been announced publicly. Millennium returned the same amount to investors last year in a transition that has been underway since 2018.