Israel Englander’s Millennium Management is expanding its credit team through the hire of a former portfolio manager at Lucidus Capital Partners.
Financial News reported that James Ter Haar, who left Lucidus last month after five years, is joining Millennium’s London office in September to head the firm’s credit portfolio. Ter Haar will hire three or four people to manage the portfolio, which has between $350 million and $450 million in assets.
Ter Haar previously worked at HSBC's investment bank and then JP Morgan before transitioning to the hedge fund industry in 2009, joining Bruce Kovner’s Caxton Associates as a portfolio manager. Lucidus is the former credit unit at Caxton before it later spun out on its own into a separate firm.
New York-based Millennium manages approximately $21.8 billion in assets.