Millennium, Point72 in separate deal talks for Engineers Gate – Bloomberg

Hedge funds Millennium Management LLC and Point72 Asset Management LP are in separate discussions for a potential acquisition of quant hedge fund Engineers Gate Manager LP, Bloomberg News reported Feb. 16, citing people with knowledge of the matter.

New York-based Engineers Gate, in which private equity giant Blackstone Inc. bought a majority stake from Canada Pension Plan Investment Board in 2020, grew 5% in January after gaining about 25% in 2021, according to the report. The hedge fund was founded in 2014 by Glenn Dubin, who retired from managing the company in 2020 to focus on direct investing through his family office.

Engineers Gate managed about $1 billion as of February 2020, Bloomberg reported.

Representatives from Millennium, Point72 and Blackstone declined to comment, while Engineers Gate didn't immediately respond to a request for comment, the media outlet noted.