Millennium in Talks to Raise Billions of Dollars in New Capital

Millennium Management is planning to raise new cash equivalent to about 10% of its $68 billion in assets as the multistrategy hedge fund giant looks to bolster its ability to access capital when needed.

The New York-based investment firm is in talks with investors to get their commitments in a so-called draw-down fund that will allow Millennium to call the cash at will, according to people with knowledge of the matter.

The firm plans to raise the cash by the end of this year or in early 2025, said the people, asking not to be identified because the details ...