Millennium Management has expanded its credit division by hiring Jonathan Grau from Laurion Capital and Christopher Reich from Brevan Howard. These strategic hires come as credit investment strategies have surged in popularity among hedge funds, although interest is reportedly waning as 2025 approaches. Each new addition brings valuable experience; Grau specializes in corporate credit, while Reich focuses on credit indices. This recruitment initiative follows an earlier acquisition of Thomas Malafronte, a seasoned trader. Millennium's recent performance has been uneven, starting the year down 1.4%, but showcasing a strong recovery with a 15% gain in 2024.
Millennium's recent hires of Grau and Reich reflect continued interest in credit strategies, despite a noted decrease in demand for these approaches moving into 2025.
Despite a challenging start to 2024, Millennium's overall performance saw a significant uptick, indicating resilience in their portfolio management strategies.
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