Millennium Partners LP is a New York City-based hedge fund manager. Brooklyn native Israel “Izzy” Englander founded the firm in 1989 with $35 million. Forbes magazine ranked him 262 out of the 400 Richest Americans estimating his net worth at $1.8 billion in 2008. With 800 employees, Millennium is mammoth in size compared to many of its competitors. It employs investment teams around the world.
Millennium ranked as the 29th largest hedge-fund manager in 2009, according to Alpha Magazine’s Hedge Fund 100. It ranked 46th in 2008. Englander was among the top-25 earning hedge-fund managers in 2007, taking home $400 million, according to Alpha. He fell off the list in 2008. Until 2008, Millennium had posted average annual returns of more than 15% since its inception.
Englander takes a hands-on approach in the hiring process. He is known for firing traders and managers if they unexpectedly lose money, according to Alpha magazine. “He expects his managers and traders to make money every day,” according to Alpha. Englander and his wife head the Englander Foundation, which donates money to Jewish organizations and schools.