Millennium Pulls $1 Billion Allocation From Hedge Fund Scopia

Millennium Management has redeemed its investment from Scopia Capital Management just over a year after backing the equity long-short hedge fund manager.

New York-based Millennium has pulled about $1 billion that it gave Scopia to manage in late 2024, according to people with knowledge of the matter. The hedge fund’s decision was triggered by other redemptions as well as personnel changes at Scopia, one of the people said, asking not to be identified as the information is private.