Millennium Management sought control of Weiss Multi-Strategy Advisers in failed talks, leading to Weiss' bankruptcy.

Millennium Management sought major changes at troubled hedge fund Weiss Multi-Strategy Advisers during failed takeover talks, including cutting staff to five portfolio managers, winding down core personnel, and expelling client funds. Negotiations fell apart in late February, and Weiss filed for bankruptcy in April. Millennium aimed to control Weiss' finances without taking on existing liabilities, apart from obligations to strategic partner Leucadia Asset Management.

May 25, 2024
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