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Alternative Assets  + Hedge Funds  | 
Millennium-Backed Taula Capital Launches with $5B

Millennium-Backed Taula Capital Launches with $5B

Taula Capital, the new hedge fund created by former Millennium Management senior trader Diego Megia, closed to new money on its first day of trading after raising $5 billion, according to Bloomberg.

According to the report, an unnamed individual with knowledge of the situation revealed that Millennium raised up to $3 billion in capital, with the remaining coming from asset managers, pension plans, and sovereign wealth institutions.

Taula, the largest debut since another Millennium alumnus, Michael Gelband, formed ExodusPoint Capital Management with $8 billion in 2018, joins a small handful of hedge funds managing multibillion-dollar launches, with many investors preferring large established multi-strategy managers.

Bobby Jain, another former Millennium employee, is set to launch his new firm Jain Global in July with a similar amount of cash as Taula.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.