Millennium hires new portfolio manager for its $1.75bn team
At the end of 2024, hedge fund Millennium enlisted ex-Marshall Wace PM Daniel Engel-Hall to build an equity long-short team under the fund's Andora Partners brand. It now appears that this team has begun hiring.
Click here to follow our new WhatsApp channel, and get instant news updates straight to your phone 📱.
Justin Lo Iacono announced he was joining Andora Partners this month as a PM in the business services sector. He spent the last three and a half years as founder and CIO of crypto hedge fund Q9 Ventures.
Lo Iacono is an alum of Citadel's TMT team, having served there as sector head analyst for surveyor capital. He's also an ex-MD of macro hedge fund Glenview Capital, and spent four years at Goldman Sachs.
Andora is one of a new breed of funds, where star traders are backed by hedge funds without working as a standard internal PM. The big difference between a fund like Andora and a standard pod is the money it's working with; Engel-Hall was reportedly allocated $1.75bn to build his team whereas Millennium's 330 investment teams manage an average of $212m each.
Millennium declined to comment.
Have a confidential story, tip, or comment you’d like to share? Contact: Telegram: @AlexMcMurray, WhatsApp: (+1 269 237 3950). Signal: @AlexMcMurrayEFC.88 Click here to fill in our anonymous form, or email editortips@efinancialcareers.com.
Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)
