Millennium has reportedly invested 4.2 billion U.S. dollars to support two external hedge Funds.

The multi-strategy hedge fund giant Millennium Management is reportedly investing $4.2 billion into two additional external investment companies.

Sources say that Ravi Naresh, who previously managed funds for Marshall Wace, will receive approximately $3 billion from Millennium for his equity long-short strategy. The sources also indicate that Millennium will invest $1.2 billion in Thomas Wong’s hedge fund Optimas Capital Management; they requested anonymity due to the private nature of the details.

Naresh joined Marshall Wace in 2017 as a portfolio manager and later became a partner. According to a source, his team generated over $1 billion in profits during his tenure at the London-based hedge fund. Naresh will manage Millennium’s funds in a separately managed account within his company, KR Capital.

Wong founded the Optimas fund in 2016. Previously, he was the head of research and sales at Credit Suisse in Hong Kong and China. He held a similar position at Bank of America Merrill Lynch and led regional oil and gas research at UBS Group.

Source: Newsfutunn