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Millennium in talks with Goldman’s Petershill: report
Millennium is exploring options with Petershill Partners, the Goldman Sachs unit, over a potential stake sale, the FT reports. The firm has remained 100%-owned by founder Izzy Englander but could sell a stake as part of its long-term planning. It was previously reported that BlackRock could buy a stake in the multi-manager firm.
Related: Multi-strategy’s era of deal-making hots up with Verition stake sale
Related: ‘A true diversifier, unlimited demand’ – Blackstone’s verdict on top pod-shops
Almost 500 moves in April
Senior people moves in the hedge fund business can be hard to track, with some making headlines, but the vast majority flying under the radar.
If movers are senior enough, their departure or arrival will warrant a Form ADV update. AFI monitors these SEC filings using a dedicated algorithm to provide members with a rolling Decision-Makers Tracker and we offer subscribers a monthly round-up, which in April saw record volume. Members can access here.
Eisler cuts 15% of workforce: report
Eisler Capital has dismissed about 15% of its workforce as it looks to reduce costs, according to a Bloomberg report. It cites declining assets, with the firm now running about $3.5bn, and trading losses of 2% so far in 2024. About 45 staff, mainly middle and back office, will be affected.
Hedge Fund Allocator Profiles: Top 10
Link to the most influential allocators of 2024, rounded up on one page.
How AI-powered accounting manipulation scores can drive hedge fund alpha
On the continuum from bad accounting practices to pure fraud, red flags abound. But spotting them can be easier said than done. A Singapore-based startup is seeking to make it easier to spot problematic companies — and deliver profits for clients in the process. Read more.
Discover AFI’s full range of research and analysis covering the global hedge fund and multi-strategy sector, including:
- The AFI 500, providing strategy, location and service provider intelligence, plus a ranking by gross assets.
- Power25 allocator research, as featured in the Financial Times, providing intelligence on the most active and influential investors into the space.
- Quarterly launch market reports. Visit the data section for rolling updates on launches and people moves.