{
  "id": 17941820,
  "title": "Millennium withdraws $1.5bn from external hedge funds following losses",
  "url": "https://urgent.news/2026/11/03/millennium-withdraws-1-5bn-from-external-hedge-funds-following-losses",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T09:45:00.000Z",
  "source": {
    "name": "Hedgeweek",
    "slug": "hedgeweek",
    "url": "https://hedgeweek.com/news/millennium-withdraws-1-5bn-from-external-hedge-funds-following-losses"
  },
  "original_language": "en",
  "account": "Millennium, a $95 billion-plus hedge fund founded by Izzy Englander, has removed more than $1.5 billion in leveraged capital from two external hedge funds due to investment losses. Troluce Capital Advisors and Axebrook Capital, both of which were established by Izzy Englander and Jack Land respectively, saw withdrawals of over $1 billion and $500 million respectively. Despite the pullbacks, both Troluce and Axebrook are expected to continue their operations. Troluce has also recently broadened its trading activities beyond its primary hedge fund strategy. Millennium has been increasing its allocation of capital to external managers as part of its investment model, with hundreds of its over 370 investment teams operating independently. However, these arrangements expose smaller hedge funds to rigorous risk limits and the risk of sudden withdrawals following underperformance. The move comes as multistrategy hedge funds face increasing scrutiny over leverage, risk management, and capital allocation among their investment teams. Millennium has remained relatively stable amid recent market fluctuations, earning an 8.1% gain through September, with performance largely stagnant during the month.",
  "summary": "Millennium is withdrawing more than $1.5bn in leveraged capital from two external hedge funds following investment losses, highlighting the risks facing smaller managers reliant on funding from major platforms, according to a report by Bloomberg. The $95bn-plus hedge fund, founded by Izzy Englander, has redeemed more than $1bn in leveraged capital from event-driven manager Troluce Capital…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Bloomberg",
        "title": "Millennium Pulls Over $1.5 Billion From Two External Hedge Funds",
        "url": "https://urgent.news/2026/11/02/millennium-pulls-over-1-5-billion-from-two-external-hedge-funds",
        "published": "2026-11-02T19:00:02.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}