Millenium Management chief Israel A. Englander's Managed Accounts & Prime Services division has opened an office in Palm Beach County, Florida.
Brett Langbert, who recently joined MA&PS from HedgeCo Networks as managing director and head of sales, will be in charge of the new office, dividing his time between it and MA&PS’ New York office. MA&PS also has an office in Santa Monica, California.
Palm Beach County, with its business-friendly climate (and lack of a state income tax) is becoming something of a haven for hedge funds.
“Palm Beach County is an ideal location for MA&PS to expand its operations because it’s a region that is in need of the services that we offer to the alternative asset community,” said I.A. Englander President Stephen Tobias. “We anticipate that more hedge funds and investors will relocate to this area which presents a terrific opportunity for MA&PS to significantly grow its client base in this dynamic business environment.”
MA&PS provides multi-prime brokerage services for the small and mid-cap hedge fund community and investors.