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Israel Englander, the billionaire founder of Millennium Management, is launching a new venture with his top quant, The Wall Street Journal reports.
The as-yet unnamed business will be Englander's first venture with a portfolio manager — which is actually pretty rare.
Normally, when top moneymakers like Millennium's Igor Tulchinsky get restless, they go for a promotion within the firm or leave.
But Tulchinsky will continue to manage Millennium's $4 billion WorldQuant fund with his team of 400 in addition to spearheading the new venture, The Journal reported.
Tulchinsky is a former video game programmer "known for his bald pate and penchant for wearing all black and a gold-chain necklace," according to The Journal.
Both he and Englander will reportedly invest in the new fund.
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