Izzy Englander's Millennium sells a minority stake that values the hedge fund giant at $14 billion

Core Insights - Billionaire Izzy Englander has sold a 15% stake in Millennium Management, valuing the firm at approximately $14 billion [1][2][7] - The sale involved a $2 billion equity stake and was executed by Goldman Sachs Asset Management's Petershill unit [2][3] - Millennium Management has a strong track record, averaging a 14% annual return since its inception in 1989 and managing $79 billion in assets with over 6,400 employees [4][6] Company Overview - Millennium Management was founded in 1989 by Izzy Englander and has grown to be one of the largest hedge funds globally [4] - The firm has 330 investment teams and has only lost money once in 35 years, indicating a stable capital base [4] - The recent minority stake sale is part of Millennium's strategy to ensure its longevity as a financial institution [6] Market Context - The valuation of Millennium at $14 billion is significant compared to other hedge funds, such as Man Group with a market cap of approximately $3.2 billion and Sculptor Capital Management valued at just over $700 million when taken private [5]