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.