Millennium Commits Capital to Pleasant Lake Partners (1)

Pleasant Lake Partners, led by founder and Chief Investment Officer Jonathan Lennon, will run money for Millennium Management after securing a commitment from the hedge fund, according to people with knowledge of the matter.

Millennium committed to a separately managed account of at least $2 billion of gross market value, a figure that includes leverage, said one of the people, all of whom asked not to be identified discussing information that isn’t public. The capital will be used for new strategy to incubate investment talent, another person said.

Representatives for Pleasant Lake Partners and Millennium declined to comment. ...