Investors can acquire a stake in one of the world's largest hedge fund companies for as little as $1 million.
According to documents distributed by the bank, Goldman Sachs is offering clients shares in Izzy Englander's Millennium Management, with a minimum investment threshold of $1 million and a maximum of $20 million.
Millennium, which manages over $78 billion in assets, is seeking buyers to acquire a 10% to 15% stake in the company, valued at approximately $14 billion. At the higher end of the range, this would require raising $2 billion in capital, with roughly half coming from Goldman's Petershill division and the remainder from funds Millennium has secured through outreach to large institutions, including existing sovereign wealth fund clients.
Sources familiar with the matter reveal that Goldman's team has been actively seeking potential investors, including high-net-worth clients and even employees of Millennium's main competitors. These sources requested anonymity as the discussions are not public.