Millennium to Back New Stock Hedge Fund With Billions of Dollars

Millennium Management, one of the world's largest multistrategy hedge funds, has committed several billion dollars to capitalize a newly launched equities-focused hedge fund founded by two seasoned investment professionals with deep roots in the institutional hedge fund industry. According to Bloomberg reporting, the fund is being established by Andrew Komery, who served as a managing director in DE Shaw & Co.'s fundamental equities division until early 2022, and Alex Chacon, a former analyst at Point72 Asset Management, the $20 billion-plus shop founded by investor Steve Cohen.

The unnamed new firm represents a continuation of Millennium's dual business model: operating its own multistrategy platform while simultaneously investing alongside and backing independent traders and portfolio managers establishing external vehicles. As part of such arrangements, Millennium typically negotiates terms that restrict the amount of capital the independent teams can raise from third-party investors, effectively controlling the scale and risk profile of the external fund.

Millennium's own flagship fund has performed solidly in 2022, posting a 9.7% return through September despite market volatility and significant headwinds across equities and alternative strategies. The firm currently manages approximately $58 billion in assets, positioning it among the largest alternative asset managers globally and providing substantial dry powder for strategic capital deployment.

The timing of this backing reflects Millennium's confidence in fundamental equity strategies and its capital advantage relative to market conditions. By backing seasoned professionals with established track records at premier institutions like DE Shaw—known for its quantitative rigor and systematic approaches—and Point72, Millennium positions itself to capture talent and alpha-generating capabilities while maintaining operational leverage and risk oversight through its partnership structure.