Inside the sprawling network of hedge fund spin-offs from Israel Englander's Millennium Management

More than 70 former employees of Englander have launched their own funds across the globe.
Phil McCarten/REUTERSOne could argue that Millennium Management's greatest advantage over other hedge funds is its ability to keep talented people in-house.The massive hedge fund — which manages some $46 billion in assets across hundreds of teams — has a unique structure that lets portfolio managers operate in independent silos. The setup, which is grants PMs even more autonomy than fellow mul