Millennium Pulls Out of Hedge Fund It Backed With $1.5 Billion

Izzy Englander’s Millennium Management pulled cash from Meridiem Capital Partners three years after backing the stock-focused hedge fund.

The multistrategy firm ended its arrangement with Khalid Malik’s Meridiem after a lockup period ended, according to people with knowledge of the matter. Millennium gave the firm $1.5 billion in 2021 to manage on its behalf, the people said, asking not to be identified discussing private details.