Hedge Fund Kodai Founder Neville Shah Joins Millennium

Neville Shah, who previously ran money for Millennium Management at his own hedge fund Kodai Capital Management, is coming in-house to join Izzy Englander’s $77 billion investment firm.

Shah is joining as a senior member of Millennium’s equities management team, according to a person with knowledge of the matter. Several other members of his team will also join the multistrategy giant as part of the move, the person said, asking not to be identified because the details are private.

That comes in the wake of Kodai’s decision to return capital earlier this year, with its co-founder Joon Park joining Balyasny Asset Management as chief operating officer of its long-short equities business. Shah didn’t respond to a request seeking comment, while a representative for Millennium declined to comment.

Millennium is bolstering is equities trading team led by global co-heads Peter Santoro and Michael Chung with a raft of hirings. Earlier this year, the firm recruited Eric Govind, Morgan Stanley’s head of equities trading in Asia. Israel Solares-Moya and Brad Lau, who both previously worked at Citadel, are also joining the management team, the person added. Millennium’s hedge fund made 2.2% in the first half of the year, Bloomberg News has reported.

Park and Shah founded Kodai in 2020, before which the two worked at Ken Griffin’s Citadel, according to their LinkedIn profiles. Kodai initially ran a managed account exclusively for Millennium and opened its strategy to other investors last year. The Chicago-based firm managed about $690 million in non-Millennium capital as of Feb. 1, according to an investor document.

Shah specializes in the technology sector and ran a portfolio of technology, media and telecom stocks at Citadel.

- Bloomberg