Millennium Management has acquired 15% by 2024

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Izzy Englander’s hedge fund, Millennium Management, gained 2.5 percent in December, projecting a 15 percent return for 2024, investors said.

The firm is one of the most prominent multi-manager hedge funds, managing $72.1 billion across more than 320 investment groups and trading a variety of strategies.

Multi-manager hedge funds typically organize traders into different asset classes, all controlled by a centralized risk system designed to protect against large losses.

The Englishman still owns 100 percent of Millennium. It was founded in 1989 with only $35 million. Millennium and Ken Griffin Citadel are pioneers of multi-manager funds, which have been the fastest-growing corner of the $4.5tn hedge fund industry in recent years.

Millennial returns lagged the S&P 500 index of U.S. blue-chip companies last year, which posted a whopping 23 percent gain for a handful of tech companies.

Millennium He declined to comment.