Millennium Hedge Fund Takes Over Mayfair Members Club for New London Office
Millennium Management has signed a lease for a new headquarters in London’s Mayfair district.
(Bloomberg) --
Millennium Management has signed a lease for a new headquarters in London’s Mayfair district, taking over a building that was previously home to a private members club operated by KPMG.
Izzy Englander’s hedge fund group will take the entire office space at 20 Grosvenor Street from Fora, an upmarket flexible office company backed by a fund advised by Brockton Capital. Fora is building out a bespoke office for Millennium and will continue to manage the space on its behalf, according to an emailed statement from the office company.
Millennium Hunts for Bigger London Office After Hiring Spree
New York-based Millennium began scouting for a new office last year to accommodate its global expansion, Bloomberg News reported. The firm employs about 3,900 people globally according to its website, up from about 3,300 at the start of last year.
The 20 Grosvenor Street building, which backs onto Brooks Mews opposite Claridge’s Hotel, was previously occupied by KPMG. The consultant opened a members club in the building in 2015 for employees and clients.
The firm, whose main London office is in Canary Wharf, built a lavish space in the heart of Mayfair including restaurants, bars and sleep pods. The idea was to provide a convenient place for client meetings and entertainment. It was shut down in 2019.
Fora, which is run by former investment banker Enrico Sanna, sublet the space from KPMG in December and is now transforming it for Millennium, which has signed a flexible lease for the space. KPMG’s lease on the building runs until 2030, according to a December statement.
Millennium -- which manages about $53 billion, according to its website -- is currently based at nearby 50 Berkeley Street. Fora is due to complete work on the new space, which spans about 40,000 square feet, before the end of the year, the statement said.
The company has about 20 buildings that are either open or under construction. Most of its properties are in London but the firm also has sites in Oxford, Cambridge and Reading.
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