Goldman Sachs recommends hedge fund giant Millennium Management to clients, with a minimum threshold of $1 million.

With just $1 million, investors can acquire a stake in one of the world's largest hedge fund companies. According to documents released by Goldman Sachs, the bank is recommending shares of Izzy Englander's Millennium Management, with a minimum investment of $1 million and a maximum of $20 million. Millennium Management, which manages over $78 billion in assets, is currently seeking buyers to acquire 10% to 15% of its shares, valuing the company at around $14 billion. If we consider the high end of the range, this would require raising $2 billion, with approximately half coming from Goldman's Petershill division and the rest from other large institutional clients, such as existing sovereign wealth fund clients. Sources reveal that the Goldman team has been actively seeking potential investors, including high net worth clients and even employees of Millennium Management's main competitors. Both Millennium Management and Goldman Sachs declined to comment. Goldman's move indicates a shift in potential buyer groups from institutional investors to high net worth individuals. Documents show that Petershill will invest the raised funds in a special purpose vehicle that will charge clients a 1% management fee and a 10% performance fee. Institutions purchasing shares directly from Millennium Management will not have to pay this additional fee. Millennium Management's solid track record of returns may attract investors. Since 1990, their hedge fund has only posted a loss in 2008, declining by 3.5%. Except for that year, the fund has had returns of over 10% each year. Additionally, clients' funds are locked in for five years, limiting the possibility of sudden outflows. 76-year-old Englander founded Millennium Management in 1989 and has since grown it into a powerhouse with over 320 investment teams. In recent years, the company has expanded rapidly, to the extent that they are now allocating some funds to other hedge fund managers. Large hedge funds have previously sold stakes as well. Millennium Management will be the first major hedge fund giant to reach a broader buyer base. KKR & Co. holds a stake in Marshall Wace. Earlier this year, Verition Fund Management agreed to sell a minority stake to Affiliated Managers Group Inc. Last year, Ken Griffin, known as the "hedge fund king," expressed consideration for selling a minority stake in Citadel, the multi-strategy hedge fund he founded in 1990.