BlackRock Explores Strategic Investment In Millennium Management

According to PANews, BlackRock, the world's largest asset management firm, is in preliminary discussions with hedge fund giant Millennium Management for a potential strategic investment. If successful, this would mark the first time in Millennium's 35-year history that its founder, Izzy Englander, has accepted external investment. BlackRock has been actively expanding its alternative investment portfolio in recent years. The firm has acquired Global Infrastructure Partners and data provider Preqin, and is currently in talks with private credit management company HPS for further collaboration. Millennium Management, known as a pioneer in the multi-manager hedge fund model, manages assets worth $69.5 billion and boasts an average annual return of approximately 14%. Previously, it was reported that as of June 30, Millennium Management held 27,263 Bitcoin, highlighting its significant involvement in cryptocurrency investments.