Izzy Englander’s Millennium Management has been in discussions to sell a minority stake that values the hedge fund colossus at roughly $14 billion, according to a person familiar with the matter.
The multistrategy firm is working with Goldman Sachs Group Inc. unit Petershill Partners to find potential buyers for a 10% to 15% stake, the person said, asking not to be identified because details of the deal discussions aren’t public. The Goldman arm specializes in buying stakes in alternative asset managers.
Potential buyers could include some of Millennium’s largest clients, such as sovereign wealth funds and other institutions that oversee billions of dollars.
Spokespeople for Millennium and Petershill both declined to comment.
Englander, 76, has been considering a minority stake sale for more than a decade. In addition to the Petershill effort, Millennium has been talking to the world’s largest asset manager, BlackRock Inc., about selling a piece of the hedge fund.
Millennium is also considering whether to offer a share of the firm, which oversees more than $75 billion, to its top executives.
The Financial Times reported on the valuation earlier Monday.