目前全球主权财富基金正大举增加对对冲基金的配置，包括阿布达比投资局提高投资目标、阿布达比投资委员会正建立150亿美元的曝险，以及新加坡政府投资公司（GIC）计划在未来三年内向对冲基金追加投入300亿美元。与此同时，许多多策略基金已停止接受新资金甚至向投资人退还现金，而管理规模达970亿美元的千禧管理则透过多元管道扩大支持旗下逾360支交易团队及外部资产经理。
千禧管理本次融资采取类似私募股权基金的分期缴款模式，预计于10月先行调用20亿美元，其余资金将在四年内依需求陆续到位。此外，千禧管理限制投资人每季最多只能赎回5%的资产，使完整赎回周期长达五年，突显顶级多策略对冲基金日益倾向长期锁定客户资金，以维持稳定的资本结构来吸引顶尖交易人才并获取稳定管理费。
Millennium Management attracted more than $30 billion in investor commitments for its latest capital raise, significantly exceeding its initial target of $20 billion. The firm is expected to close $22 billion in commitments on October 1 and has explored gathering an additional $3 billion for a less-liquid credit fund, underscoring the surging investor demand for premier multistrategy hedge funds.
Global institutional demand is booming, highlighted by the Abu Dhabi Investment Authority raising its allocation, the Abu Dhabi Investment Council building a $15 billion exposure, and Singapore's GIC planning to deploy an additional $30 billion into hedge funds over the next three years. While many competitors have closed to new capital or returned cash, Millennium, managing $97 billion, continues expanding avenues to back its more than 360 trading teams and external managers.
Adopting a capital-call structure commonly seen in private equity, Millennium will draw down $2 billion in October and deploy the remaining capital over four years as needed. The firm also enforces strict liquidity terms that permit clients to withdraw only 5% of assets per quarter over a five-year period, reflecting a broader industry trend toward longer lockups designed to secure stable capital, retain top talent, and generate steady fees.