Millennium Management is in talks with investors and plans to raise a record $20 billion to solidify its position in the booming multi-strategy hedge fund industry. People familiar with the matter revealed that the funds will be raised in two parts. Earlier reports said that this multi-strategy hedge fund plans to raise at least $10 billion this year. Millennium has assets under management of approximately $92 billion and has more than 340 teams. Another person familiar with the matter said that the company is still exploring more cooperation, handing over funds to external managers and replacing the latter's external capital, similar to the cooperation model with Bobby Jain's multi-strategy fund. The company's president, Ajay Nagpal, is responsible for this work.

Millennium Management is in talks with investors and plans to raise a record $20 billion to solidify its position in the booming multi-strategy hedge fund industry. People familiar with the matter revealed that the funds will be raised in two parts. Earlier reports said that this multi-strategy hedge fund plans to raise at least $10 billion this year. Millennium has assets under management of approximately $92 billion and has more than 340 teams. Another person familiar with the matter said that the company is still exploring more cooperation, handing over funds to external managers and replacing the latter's external capital, similar to the cooperation model with Bobby Jain's multi-strategy fund. The company's president, Ajay Nagpal, is responsible for this work.