Millennium Management is expanding its global footprint with plans to establish a presence in Brazil, hiring a former JPMorgan executive to spearhead the launch of a new office in São Paulo, according to a report by Bloomberg.
The $92bn multi-manager hedge fund has appointed Fabio Akira Hashizume to an executive role overseeing the firm’s Brazilian operations, according to people familiar with the matter. Hashizume joins after more than a decade at JPMorgan Chase before most recently working at BlueLine Asset Management.
As part of the expansion, Millennium portfolio manager Rubens Machado is expected to relocate from London to São Paulo in the coming months while the firm secures the regulatory licences required to operate in Brazil. Machado will remain part of his existing investment team despite the move.
The firm has also transferred strategist Otavio Teixeira from the US to São Paulo as it builds its local presence.
Millennium and Hashizume declined to comment on the appointments, while Machado and Teixeira did not respond to requests for comment.
The move marks the latest step in billionaire Izzy Englander’s efforts to expand Millennium’s international operations. The firm, which manages approximately $92 billion in assets, operates one of the world’s largest multi-manager hedge fund platforms, allocating capital across more than 340 investment teams.
Brazil has become an increasingly attractive destination for global alternative investment firms seeking to strengthen their presence in Latin America’s largest economy. Last year, multi-manager rival Schonfeld Strategic Advisors also established a São Paulo office, appointing former Goldman Sachs partner Andre Laport to lead its Brazilian business.
Millennium has been steadily broadening its global reach in recent years, including plans to establish an onshore investment management business in India as it continues to expand beyond its traditional investment hubs.
