BlockBeats news, on November 8, citing informed sources reported by the Financial Times, BlackRock is in preliminary discussions with Millennium Management about a strategic partnership that may allow the world's largest asset management company to acquire a stake in the most profitable hedge fund management company.
Although any stake may be small, this potential collaboration reflects BlackRock's pursuit of expanding into alternative investments, while also showing that Millennium's 76-year-old founder Izzy Englander is continuing to grow and diversify his business.
According to informed sources, negotiations are still in the early stages and may not result in an agreement. If BlackRock does indeed acquire a stake in Millennium, it will be the first time in 35 years that Englander has accepted external investment into Millennium's management company.
BlackRock and Millennium both declined to comment.