Coatue's Weiner Gets Billions From Millennium for Hedge Fund.

Aaron Weiner, who is leaving Coatue Management, is set to start his own hedge fund with backing from Millennium Management. Weiner will receive multiple billions of dollars to start trading for his hedge fund, initially exclusively for Millennium. This arrangement reflects a growing trend among multistrategy hedge funds to strike deals with internal and external traders to expand their talent pool. Millennium has previously given billions of dollars to external managers, and other firms such as Point72 Asset Management and BlueCrest Capital Management have also provided funding to external teams. Weiner, a former managing director at Coatue, has experience at Blackstone Inc. and Goldman Sachs Group Inc. [Extracted from the article]