Neville Shah, co-founder of shuttered hedge fund Kodai Capital Management, has joined $77bn multi-strategy powerhouse Millennium Management as a senior member of its equities management team, according to a report by Bloomberg citing an unnamed source familiar with the matter.

Shah, who previously managed a portfolio for Millennium through his own firm, is bringing several members of his Kodai team with him in the transition. The move follows Kodai’s return of capital earlier this year and the departure of co-founder Joon Park, who joined Balyasny Asset Management as COO of its long-short equities business.

Millennium has declined to comment, and Shah did not respond to inquiries.

The addition of Shah is part of a broader hiring spree at Millennium, as the firm continues to strengthen its global equities division led by co-heads Peter Santoro and Michael Chung. The team recently welcomed Eric Govind, former head of equities trading for Morgan Stanley Asia, as well as Israel Solares-Moya and Brad Lau, both formerly of Citadel.

Founded in 2020, Kodai initially ran a managed account exclusively for Millennium before opening to outside investors. As of 1 February, 2025, the firm managed approximately $690m in non-Millennium capital, according to investor materials.

Shah brings deep sector expertise in technology, media, and telecom, having previously managed a TMT portfolio at Citadel prior to launching Kodai.