A forthcoming hedge fund launch from a 31 year old is getting a vote of confidence from one of the industry’s largest players.
Coatue rising star Aaron Weiner is getting backing for his new hedge fund from Izzy Englander’s Millennium Management, according to people familiar with the matter, who asked not to be named because the information isn’t public. The $68 billion multistrategy giant is seeding Weiner’s launch with a multibillion dollar check, the people said.
Weiner will exclusively run money for Millennium for an initial period.
Weiner did not respond to requests for comment. A representative for Millennium declined to comment.
Coatue informed investors earlier this year that Weiner, head of healthcare and tactical solutions, would be leaving the firm at the end of the year, Bloomberg reported in February.
Though young, Weiner’s pedigree includes stops at some of Wall Street’s most formidable names: He spent two years in investment banking at Goldman Sachs after graduating from Cornell University, then made the jump to Blackstone. He joined Coatue in 2021, investing in healthcare companies.
Already the largest multimanager hedge fund on the planet, Millennium is increasingly seeding external managers and new launches to deploy its capital.
Former Millennium trader Diego Megia’s Taula Capital recently launched with $5 billion, including as much as $3 billion from his former employer.
