Millennium's new 30-something London partner has only been a PM for seven months

Time served is much less of a qualifier in a hedge fund than it is in a bank, and Millennium's Ryan Fox is evidence of that. He joined the fund's London office this week as a senior portfolio manager and a partner, but he spent less than a year as a portfolio manager prior to that. 

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Fox's last gig was at another hedge fund: Citadel. He spent four years at the fund, predominantly as an equity analyst, before transitioning to a portfolio manager (PM) in December 2023. Seven months later, Fox went on a year-long gardening leave period, meaning he has spent more time being on gardening leave as a PM than he has spent working as one. Something Two Sigma's interns can perhaps relate to.

Before Citadel, Fox spent just shy of a decade working in equity research across banks and hedge funds. He began with four years at Morgan Stanley, then spent three years at Tudor Capital. He was picked up by Steve Cohen's Point72, where he worked until Citadel poached him. It's not clear exactly what Fox is trading but, given his background, equities would be a good guess.

Young hedge fund partners aren't exclusive to Millennium. 37-year-old Eike Schick, who we reported on earlier this week, was a partner at Citadel until his recent departure. He appears to be a similar age to Fox; they both joined their respective universities, UCL and Cambridge, in the same year. Schick, unlike Fox, has been a trader his whole career, however.

If you're even more impatient and want to be a partner in your 20s, try Bluecrest. Mike Platt's fund hired ~28-year-old Goldman Sachs rates trading executive director Sam Tabari as a 'member' this week. 

Millennium declined to comment.

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