“Citadel and Millennium are as good a pedigree as you’ll find today,” said Craig Bergstrom, chief investment officer at New York-based Corbin Capital Partners that invests in hedge funds. Yet, “it’s a meaningful transition to go from running a portfolio at a highly-levered platform to generating returns as a standalone fund. Some will be surely be successful, while others will struggle,” he said.

https://www.bloomberg.com/news/features/2024-09-17/hedge-fund-startups-millennium-citadel-traders-raise-14-billion-for-spinoffs?sref=EcccZSTc