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Nishant Kumar reports that Javier Velazquez is returning external clients' cash from his hedge fund in order to manage money exclusively for his former employer and largest backer, Millennium Management.
This move marks a shift in Velazquez's strategy as he transitions away from external client management to focus solely on Millennium Management.
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Nishant Kumar has previously reported on hedge fund developments, including LMR’s decision to form a team to allocate capital externally as competition intensifies for separately managed account strategies. In a separate update, he listed several investment firms such as RIEF, RIDA, P72, Schonfeld, Walleye, Whale Rock, and Centiva. These articles reflect ongoing activity among major funds and managers.