HF Manager May Sell $500M Millennium Stake

Hedge fund manager Israel Englander is in talks to offload a minority stake in the $11 billion hedge fund Millennium Management, The Wall Street Journal reports. The manager is expected to sell nearly a 20% stake in Millennium.

The stake is valued at between $300 million and $500 million. Connecticut-based Foundation Capital Partners, which has received nearly $1.5 billion in commitments from clients, including Middle East sovereign-wealth investors, is interested in the stake.

Click here for the story from The Wall Street Journal.