Millennium to Pull Cash From Goldman Alum’s Hedge Fund (Correct)

Millennium Management is pulling money from former Goldman Sachs Group Inc. partner Jamie Goodman’s Pamalican Asset Management Ltd., eight months after the hedge fund started trading, according to people familiar with the matter.

The decision represents a setback to the Hong Kong-based firm that has been one of the most active investors in initial public offerings, follow-on share sales and block trades in recent months, said the people, who asked not to be identified discussing private information.

Pamalican is planning to raise money from other investors after Millennium’s exit, the people added.

Millennium had agreed to back the ...