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...Other recent partner-level exits include Solomon’s longtime lieutenant, Jim Esposito, Beth Hammack, co-head of the bank’s financing group and the former head of its consumer and wealth division Stephanie...
...The multi-manager groups typically employ between tens and hundreds of autonomous and highly specialist risk-takers in teams or so-called pods, which trade a range of different strategies and operate within...
...All three groups declined to comment....
...with Millennium....
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...A logical buyer could be an alternatives group or a sovereign wealth fund. Those who know Englander well are not discounting another sleight of hand....
...Vontobel has named two internal candidates to jointly lead the group when current chief executive Zeno Staub steps down in April....
...TCI and Pershing Square are the youngest funds on the list, competing with older groups such as Millennium and Citadel, which were founded in 1989 and 1990 respectively....
...These highly leveraged hedge fund groups diversify investments across a wide range of asset classes....
...“The magnitude of the América Móvil short position is not only uncommon for Millennium but is also a rarity among other money managers,” said Ivan Ćosović, founder of data group Breakout Point....
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...The so-called multi-manager method was pioneered by Ken Griffin’s Citadel and Izzy Englander’s Millennium Management....
...Multi-manager hedge funds are a subset of this category, albeit the most prominent type because of the success of Citadel and Millennium....
...Citadel and Millennium declined to comment....
...Citadel, the $43bn group run by Ken Griffin, gained 24.5 per cent in 2020 and is up 19.5 per cent in the first 10 months of this year, according to a person familiar with the matter....
...New York-based hedge fund Millennium Management has hired Linklaters partner Pansy Wong as international general counsel, based in London....
...His about-face turned out well for Millennium’s investors....
...Envision’s physician practice group was in the middle of the “surprise billing” controversy in which unsuspecting emergency room patients are hit with massive charges for basic services....
...Powered by the success of the likes of Citadel and Millennium (technically “multi-manager” multistrats where each trading pod works almost autonomously) it’s been one of the hedge fund industry’s hottest...
...WorldQuant’s own 15-year record is shrouded in secrecy — even to its own employees and Millennium investors — but insiders say Tulchinsky is one of the highest-paid people in the wider group....
...Of twenty multi-manager firms managing more than $220 billion collectively, thirteen are no longer taking in more cash, according to Julius Baer Group Ltd....
...Warburg Pincus, a New York-based private equity group, acquired CityMD in 2017 at a $600mn valuation, which included debt and the rollover of physician equity interests....
...Launches globally fell to 71 in the third quarter of last year, the latest data available show, down from 132 in the third quarter of 2021, according to data group HFR....
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