Millennium Management Withdraws $1.5 Billion From Two Hedge Funds

Millennium Management withdrew more than $1.5 billion in leveraged capital from two external hedge funds it backed last year. The New York-based investment firm pulled over $1 billion from event-driven manager Troluce Capital Advisors and approximately $500 million from fixed-income fund Axebrook Capital.

Trading losses at both vehicles triggered the redemptions, which align with the rigid drawdown parameters and risk management standards of Millennium's $95 billion investment platform. Despite these significant withdrawals, both Troluce Capital Advisors and Axebrook Capital will continue to manage capital. Troluce specifically plans to expand its trading footprint beyond its primary hedge fund structure.

Millennium Management has maintained operational momentum throughout 2026, reporting an 8.1% return through September.