Millennium in Talks to Raise Billions of Dollars in New Capital.

Millennium Management, a multistrategy hedge fund, is in talks to raise new capital equivalent to about 10% of its $68 billion in assets. The New York-based firm plans to raise the cash through a draw-down fund, allowing them to access the funds as needed. This move is aimed at bolstering their ability to access capital and attract and retain investment professionals. Despite the hedge-fund industry facing capital outflows, Millennium and other giants have closed their doors to new cash, emphasizing the importance of stable capital. [Extracted from the article]