Millennium May Sell Stake To Private Equity Firm

Jul 25 2011 | 2:31pm ET

Millennium Management is poised to sell a minority stake to a private equity firm led by the former head of Citigroup's hedge fund unit.

Israel Englander, Millennium's founder, and Foundation Capital Partners are in advanced talks about having the latter buy less than 20% of the New York-based hedge fund giant, which has more than $11 billion in assets under management. A deal remains uncertain, although Foundation Capital would pay between $300 million and $500 million for the stake.


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