Goldman is said to offer investors stakes in Millennium for just $1 million

Chris Hondros/Getty Images News

Goldman Sachs Group (NYSE:GS [https://seekingalpha.com/symbol/GS]) is said to be offering clients a stake in Izzy Englander’s Millennium Management for a minimum commitment of $1 million and as much as $20 million, according to documents being circulated by the bank.

Millennium, which oversees more than $78 billion, is seeking buyers for a 10% to 15% equity stake in the firm at a roughly $14 billion valuation, _Bloomberg _reported.

At the higher end of the range, that would mean a $2 billion money raise, with roughly half coming from Goldman’s Petershill unit and the rest coming from Millennium approaching large institutions, like existing sovereign-wealth fund clients, the report said.

The Goldman team has been reaching out to potential investors, including high-net-worth individuals and even employees at Millennium’s top competitors, according to sources familiar with the situation.

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