Aaron Weiner, formerly of Coatue Management, is set to establish his own hedge fund with substantial backing from Izzy Englander’s Millennium Management, according to a report by Bloomberg.
Bloomberg’s sources confirmed that Weiner will receive several billion dollars to initiate trading exclusively for Millennium, which manages approximately $68bn.
Englander’s firm has previously allocated several billion dollars to external managers, including Delta Global Management and Lorenzo Rossi’s Kedalion Capital Management. Recently, Millennium provided $3bn to Diego Megia for his hedge fund, Taula Capital Management, which started trading with an overall $5bn.
Other hedge funds such as Point72 Asset Management, BlueCrest Capital Management, Balyasny Asset Management and Schonfeld Strategic Advisors have also engaged external teams through managed accounts, maintaining control while expanding their investment reach.
Weiner, who served as a managing director and head of healthcare and tactical solutions at Coatue, joined the firm in 2021 following roles at Blackstone and Goldman Sachs. While at Coatue, Weiner was involved in investments in companies like Reify Health, Infinitus Systems, Cadence Solutions, DNA Script and Entos.
