Billionaire Millennium Management founder Israel Englander is launching a new venture with his top quant, The Wall Street Journal reports.
The not-yet-named business will be Englander’s first venture with a portfolio manager — which is actually pretty rare.
Normally, when top moneymakers like Millennium’s Igor Tulchinsky get restless, they go for a promotion within the firm or leave.
But Tulchinsky will continue to manage Millennium’s $US4 billion WorldQuant fund with his team of 400 in addition to spearheading the new venture, the Journal reported.
Tulchinsky is a former video game programmer “known for his bald pate and penchant for wearing all black and a gold-chain necklace,” according to the Journal.
Both he and Englander will reportedly be personally investing in the new fund.