Millennium, Citadel Breed a $14 Billion Pack of Hedge Fund Cubs

Once, it was Julian Robertson, the founder of Tiger Management, who got to play godfather to a generation of hedge fund stars.

Now, it’s Ken Griffin’s Citadel and Izzy Englander’s Millennium Management who are taking up that role — whether they want to or not.

With the multistrategy hedge fund titans closed to outside cash amid a dearth of talent able to manage their money, Citadel and Millennium traders are seizing the chance to go it alone. And investors are backing them with an avalanche of assets.

Citadel’s Ken Griffin.

Photographer: Bryan van der Beek/Bloomberg

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