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.

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