Millennium Management LLC has been in the midst of a rapid expansionary phase, expanding its extant operations to include a restructured commodities staff via strategic investment teams, on the heels of waning prices.
New York-based Millennium Management has made a string of hires, most recently Matthew Zahler who follows on the heels of Neil Smaldon, the former Commodities Strategist at Tudor Investment Corp.
The demand for commodities as an asset class has started to be rekindled, following the decline of prices across the board of precious metals which has created a number of buying opportunities.
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According to Jay Rogers, President of Alpha Strategies Investment Consulting, “Commodities have been a great diversifier to the broader markets. Now that people are getting scared about the top of markets, it makes sense to build in something uncorrelated.”
In addition to Zahler and Smaldon, Millennium also brought in recruited Raj Sethi and Brian Zachman from SAC Capital Advisors LP. It will be a development to watch for as the price of commodities remains in flux.