Key Takeaways
- • Shivang Sood, associate portfolio manager at Millennium for two years, is joining North Rock Capital Management as a long/short equities portfolio manager based in Dubai, effective September 2025.
- • The move represents continued talent migration from London-based multi-strategy hedge fund Millennium to regional alternatives, particularly to Middle East hubs.
- • North Rock Capital, launched in March 2013, continues building its Dubai office with the addition of experienced long/short equities specialists.
- • Sood's transition marks a geographic and strategic shift from Millennium's London operations to North Rock's growing Middle East presence.
Summary
Shivang Sood, who spent two years as an associate portfolio manager at Millennium, is joining Dubai-based hedge fund North Rock Capital Management in a portfolio management capacity. The move, effective September 2025, positions Sood in a long/short equities role at North Rock's Middle East office, according to people familiar with the matter.
Sood's departure represents part of a broader talent movement from Millennium, the established multi-strategy hedge fund, to regional alternatives building presence in the Middle East. The transition underscores continued recruitment activity among hedge fund operators seeking to expand their geographic footprint and specialized investment capabilities in Dubai and the Gulf region.
North Rock Capital, founded in March 2013, has been actively expanding its Dubai operations. The hire of Sood as a dedicated long/short equities portfolio manager aligns with the firm's strategy to build sector-specific expertise and capitalize on regional investor demand. Sood's background as an associate portfolio manager at Millennium, one of London's most prominent multi-strategy platforms, brings relevant experience in equity selection and portfolio construction to the role.
The transaction reflects ongoing structural changes in the hedge fund industry, where established London-based firms serve as talent pipelines for newer entrants and regional alternatives seeking to differentiate their investment offerings. For investors monitoring talent flows and hedge fund positioning, Sood's move signals North Rock's commitment to developing specialist capabilities in long/short equity strategies as part of its Dubai expansion strategy.
Sood's departure represents part of a broader talent movement from Millennium, the established multi-strategy hedge fund, to regional alternatives building presence in the Middle East. The transition underscores continued recruitment activity among hedge fund operators seeking to expand their geographic footprint and specialized investment capabilities in Dubai and the Gulf region.
North Rock Capital, founded in March 2013, has been actively expanding its Dubai operations. The hire of Sood as a dedicated long/short equities portfolio manager aligns with the firm's strategy to build sector-specific expertise and capitalize on regional investor demand. Sood's background as an associate portfolio manager at Millennium, one of London's most prominent multi-strategy platforms, brings relevant experience in equity selection and portfolio construction to the role.
The transaction reflects ongoing structural changes in the hedge fund industry, where established London-based firms serve as talent pipelines for newer entrants and regional alternatives seeking to differentiate their investment offerings. For investors monitoring talent flows and hedge fund positioning, Sood's move signals North Rock's commitment to developing specialist capabilities in long/short equity strategies as part of its Dubai expansion strategy.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.