Millennium has added Justin Lo Iacono as a Portfolio Manager for its Andora Partners brand. This move follows the firm’s decision at the end of 2024 to bring on Daniel Engel-Hall, formerly of Marshall Wace, to lead the establishment of an equity long-short team, according to report by eFinancial Careers.
Lo Iacono joins after spending the past three and a half years as the Founder and CIO of Q9 Ventures, a crypto hedge fund. He brings a wealth of experience from his tenure at some of the industry’s top firms, including serving as Sector Head Analyst on the TMT team at Citadel’s Surveyor Capital, as Managing Director at macro hedge fund Glenview Capital, and holding a four-year stint at Goldman Sachs.
Andora Partners is part of a new breed of hedge funds that back star traders with significant funding, but without requiring them to function as traditional internal Portfolio Managers. Engel-Hall was reportedly allocated a substantial $1.75bn to build his team, a sharp contrast to Millennium’s average of $212m per team across its 330 investment teams.
Millennium declined to comment on the hiring.
