WorldQuant Millennium Advisors (WMA), the joint venture between WorldQuant and Millennium Management, has grown assets under management to nearly $30bn, according to people familiar with the matter.

The figure marks a significant increase from approximately $10bn in mid-2024, reflecting continued investor demand for quantitative hedge fund strategies. WorldQuant is also understood to manage a further $10 billion on behalf of Millennium Management under separate arrangements.

WMA was established to allow WorldQuant to manage capital for external investors while leveraging Millennium's operational and infrastructure platform. The partnership followed years of discussions between WorldQuant founder Igor Tulchinsky and Millennium founder Izzy Englander, with the firm's first external fund launched in 2018 after raising $2.3bn.

The growth comes amid strong institutional appetite for hedge funds. Recent industry surveys indicate allocators continue to increase exposure to the asset class, supporting fundraising across large multi-manager and quantitative investment firms.