Millennium and Engineers Gate Wind Down Hedge Fund Partnership

Millennium Management is in the process of taking back cash it gave to Engineers Gate to trade on its behalf, after the hedge funds agreed to end their more than three-year-old partnership.

Engineers Gate will stop managing money for Millennium by the end of this month, according to people with knowledge of the matter. The firms have mutually agreed to dissolve the separately-managed account, the people said, asking not to be identified because the details are private.