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Alternative Assets  + Hedge Funds  |  July 1, 2024
Millennium-Backed Taula Capital Launches with $5B
Joe Palmisano
By: Joe Palmisano

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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Taula Capital

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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