Millennium Down 1% In Aug., Up 5% YTD

Aug 30 2011 | 2:20pm ET

Millennium Management, in talks to sell a minority stake in itself to a private equity firm, has been spared the worst of August's ravages.

While many of the $11 billion New York-based firm's peer's nurse double-digit losses, Millennium is down just 1% this month, Opalesque reports. The month's decline leaves Millennium up about 5% on the year.

Last month, it was reported that Millennium founder Israel Englander was in advanced talks with Foundation Capital Partners about having the latter buy a stake of less than 20% in the hedge fund for between $300 million and $500 million. Foundation is headed by former Citigroup hedge fund chief Dean Barr.

Englander, 62, reportedly has no plans to retire.


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