Key Takeaways
- • Millennium Management is deploying approximately $1.8 billion across two new hedge fund investment teams, expanding its capital allocation strategy both internally and externally.
- • Scopia Capital Management will manage roughly $1 billion in external assets for Millennium, representing a significant outsourced mandate.
- • Chris Tuzzo and Warren Empey, formerly of Kepos Capital, are joining Millennium to manage approximately $800 million under the firm's NorthArrow division.
- • This capital deployment reflects Millennium's continued strategy of backing emerging investment teams while maintaining its position as one of the world's largest multistrategy hedge fund operators.
Summary
Millennium Management, the New York-based multistrategy hedge fund giant led by CEO Izzy Englander, is backing two new investment teams with approximately $1.8 billion in combined capital allocation. The move underscores the firm's ongoing strategy to deploy capital across both internally managed and externally managed platforms.
Scopia Capital Management is receiving approximately $1 billion to manage externally for Millennium, according to sources familiar with the arrangement. This external mandate represents a significant vote of confidence in Scopia's investment approach and expands Millennium's ecosystem of affiliated managers.
The second component of the capital deployment involves Chris Tuzzo and Warren Empey, both formerly employed at Kepos Capital, who are joining Millennium to oversee approximately $800 million under the firm's NorthArrow division. This internal hiring and capital allocation reflects Millennium's continued reliance on recruiting experienced portfolio managers to manage dedicated strategies within the multistrategy platform.
The $1.8 billion allocation demonstrates Millennium's capital deployment strategy during a period of significant assets under management across the hedge fund industry. By supporting both external teams like Scopia Capital and internal hires like Tuzzo and Empey, Millennium continues to position itself as both an operator of diversified strategies and a capital allocator to emerging investment talent.
Scopia Capital Management is receiving approximately $1 billion to manage externally for Millennium, according to sources familiar with the arrangement. This external mandate represents a significant vote of confidence in Scopia's investment approach and expands Millennium's ecosystem of affiliated managers.
The second component of the capital deployment involves Chris Tuzzo and Warren Empey, both formerly employed at Kepos Capital, who are joining Millennium to oversee approximately $800 million under the firm's NorthArrow division. This internal hiring and capital allocation reflects Millennium's continued reliance on recruiting experienced portfolio managers to manage dedicated strategies within the multistrategy platform.
The $1.8 billion allocation demonstrates Millennium's capital deployment strategy during a period of significant assets under management across the hedge fund industry. By supporting both external teams like Scopia Capital and internal hires like Tuzzo and Empey, Millennium continues to position itself as both an operator of diversified strategies and a capital allocator to emerging investment talent.
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.