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Millennium Management is making significant changes in its operations following recent market volatility. The hedge fund has closed two trading pods focused on index-rebalancing strategies in Asia, a decision attributed to this month's market turmoil. In a strategic pivot, Millennium is also backing a new hedge fund launched by George Panos, a former portfolio manager at Echo Street. This move is part of Millennium's broader strategy to expand its allocation to external traders, with approximately 10% of its teams now comprised of external partners. These developments reflect the firm's adaptive approach in response to changing market conditions.
Millennium Management is backing a hedge fund started by former Echo Street portfolio manager George Panos, as the multistrategy investment firm expands allocation to external traders https://t.co/B94T0xQIoB via @nishantkumar07 @GillianTan @business #HedgeFunds
Scoop: Millennium is backing a hedge fund started by former Echo Street portfolio manager George Panos, as the multistrategy investment firm expands allocation to external traders. A tenth of Millennium’s teams are now external. With @GillianTan https://t.co/S4iRCA3Y1M
Millennium Management is backing a hedge fund started by former Echo Street portfolio manager George Panos, as the multistrategy investment firm expands allocation to external traders https://t.co/6sTMxNnkzo