Gate News message, April 25 — Yiming Zhang, a senior quantitative researcher at Jump Trading, has secured seed funding from hedge fund giant Millennium Management to launch his own external management operation, according to BusinessInsider. Zhang will operate as an external manager and is subject to non-compete restrictions, with his new venture expected to formally launch once the restriction period expires.
Zhang spent 17 years at Jump Trading, where he was a key member of the core strategy team. His departure marks another instance of top talent moving to independent ventures within the hedge fund ecosystem.
Millennium Management has increasingly positioned itself as an incubator for external managers in recent years, providing capital and resources to support independent teams. This strategy has become a defining feature of the firm’s growth model in the competitive hedge fund landscape.
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