Hedge fund Millennium on London equities merry-go-round as recruitment soars
Millennium the world's biggest multistrategy hedge fund, is doing some big global hiring. And there are signs that it's gearing up for adding people to its London equities business in particular.
Millennium's website says that it now has nearly $75bn in assets under management and 6,100 staff globally. Headcount at the fund is up from 5,550 this time last year and from 5,700 people in August 2024. In the past six months alone, Millennium has therefore increased global staff by 400 people, or 7%.
Some of those new hires have been in the London equities business. In an apparent declaration of intent, Millennium is moving Peter Santoro, its co-head of equities with New York-based Michael Chung, to London. Santoro remains co-head of global head of equities at Millennium, but his presence in London provides some local management heft that was lost with the departure of Philip Allison in 2023.
Bloomberg reported today that Millennium has hired Adrien Delattre, an equity volatility and dispersion PM from Eisler. Last month, Millennium hired Antoine Foucher and Sooraj Mahesh from North Rock for the London team. Foucher is head of equities advisory for Europe and Sooraj is a portfolio manager (PM). They follow Millennium's addition of Jonathan Ackerley, North Rock's head of European business development, last year.
Santoro is a hiring machine. He's been running equities at Millennium since 2017, Bloomberg said Millennium's equities investment headcount has tripled.
Millennium isn't the only multistrategy fund hiring equities PMs in London. Citadel has also been building its London equities business under Drew Gillanders. Max Antcliff, a former associate portfolio manager at North Rock in London, is understood to be joining Citadel soon. One headhunter said funds' appetite for discretionary equities is increasing and that "tons more" hiring in the area is coming.
As the London equities merry-go-round turns, it's also leaving gaps to be filled. North Rock, which is the multi-portfolio manager business of Lighthouse Partners, looks particularly bereft. North Rock is already adding new people, including from Millennium. - Shivang Sood, a long short equities associate portfolio manager at Millennium in London, is thought to have resigned to join there soon.
Millennium declined to comment. The firm's broader hiring comes after it increased its AUM 9% from $68bn last year. Millennium's hundreds of new hires aren't just in London or in equities, and it hasn't just been adding portfolio managers. Quants are popular too.
Photo by Melanie Vaz on Unsplash
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