Multi-strategy major Millennium Management has hired Chris Mascarinas, Jain Global’s managing director of marketing and investor relations, according to a report by eFinancial Careers.

The report cites unnamed people familiar with the move as saying that Mascarinas has joined Millennium’s capital development and investor relations team in New York, which is led by John Novogratz.

The appointment comes after Jain Global stopped managing money for external investors and transferred its outside capital to Millennium. The firm continues to operate as a standalone business, retaining its portfolio managers, communications team and investment operations, while continuing to recruit investment talent.

Mascarinas joined Jain Global in November 2023 after holding investor relations roles at several investment firms. His move highlights the reduced requirement for a dedicated external fundraising operation at Jain following the shift of its outside capital to Millennium.

Jain Global reportedly declined to comment. It remains unclear whether chief marketing and investor relations officer Jaime Hobbeheydar will also move to Millennium.