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Izzy Englander’s Millennium Management hedge fund gained 2.5 percent in December, bringing returns for 2024 to 15 percent, according to investors.
The firm is one of the most prominent multi-manager hedge funds, managing $72.1 billion across more than 320 investment teams and trading a variety of strategies.
Multi-manager hedge funds typically arrange traders in a variety of asset classes, all controlled by a centralized risk system designed to prevent large losses.
Englander still owns 100 percent of Millennium, which he founded in 1989 with assets of just $35 million. Millennium and Ken Griffin’s Citadel pioneered multi-manager funds, which in recent years have been the fastest-growing corner of the $4.5 trillion hedge fund industry.
Millennium’s returns last year lagged those of the S&P 500, the index of US blue-chip companies, which rose 23 percent on big gains for a handful of technology companies.
Millennium declined to comment.
