Hedge Fund Manager Millennium Announces Acquisition, 03/03/2008
Press Release
Source: Millennium Capital Management
Hedge Fund Manager Millennium Announces Acquisition Monday March 3, 2:03 pm ET
LONDON & NEW YORK--(BUSINESS WIRE)--Millennium Capital Management announced today that it has acquired the assets of Castlegrove Capital, a London multi-strategy hedge fund active in global equity markets. In connection with the transaction, a number of portfolio managers and other employees currently at Castlegrove will become part of the Millennium Group, joining Catapult Capital Partners LLP (a Millennium Group affiliate) in London.
Israel Englander, Chairman of Millennium, said: "With this acquisition, we obtain a broader base in Europe and continue to participate actively in the consolidation of the hedge fund industry. We believe that we offer an attractive platform to talented portfolio managers who want to be freed of the administrative, legal, compliance and fund-raising burdens that attend the business of managing a hedge fund. With us, investment professionals can concentrate all of their energies on what they do best—managing portfolios—while we provide the trading, operational, technological and risk management support that have become so critical to this industry."
Terms of the transaction were not announced.
The Millennium Group of investment managers has approximately $13 billion in assets under management and is based in New York with affiliated offices in London, Beijing, Paris, Luxembourg, Singapore, Dallas, Texas and Greenwich, Connecticut.
