Farzad Kassam is setting up a new hedge fund in Dubai with support from Millennium Management, aiming to carry over more than $1 billion in assets that he currently manages. The launch is scheduled for 2027 and will initially handle money exclusively from Millennium’s founder, Izzy Englander, before possibly opening to outside investors later.
From NatWest to Millennium and Now Dubai
Kassam joined Millennium in 2019, bringing his experience from leading GBP rates trading at NatWest Markets. His expertise in fixed income and macro strategies fits right into Millennium's model, which involves numerous independent teams trading under strict risk controls. Dubai became the natural choice for Kassam's new firm since he is already based in the UAE, making it a practical headquarters rather than just a symbolic location.
Launching with a billion dollars already in place from a single investor like Englander takes away one of the toughest hurdles for new hedge funds, which often struggle to secure capital while building their track records. Millennium Management itself, founded in 1989, has grown into a multistrategy hedge fund managing over $70 billion by fostering such spinouts.
This material is for informational purposes and does not constitute financial advice.
