Early Life
Israel Englander was born in Brooklyn, New York, in 1948, to Polish-Jewish parents. He grew up in a religious home and attended yeshiva. His father's entire family was killed in the Holocaust. Englander's parents were later deported to a Soviet labor camp after the war, and they immigrated to the United States in 1947.
Rise to Success
Englander's interest in the stock market began early, trading stocks in high school. He attended New York University (NYU), where he earned a Bachelor of Science degree in finance. He began his professional career on Wall Street in 1976 as a floor broker at the American Stock Exchange. In 1977, he formed a floor brokerage house, I.A. Englander & Co.. In 1989, he founded Millennium Management with an initial investment of $35 million.
Key Business Strategies
Millennium Management employs a multi-strategy approach to investment, allocating capital to numerous independent trading teams. The firm focuses on various strategies, including fundamental equity analysis, quantitative and statistical arbitrage, and merger arbitrage. Millennium's risk management framework, including daily position limits and team-level profit-sharing, has contributed to its consistent performance and growth.
Philanthropy
Englander, through the Englander Foundation, supports various causes, including medical research, healthcare, education, and local and national community organizations. He has been a generous donor to Weill Cornell Medical College, and his contributions have helped advance the Englander Institute for Precision Medicine.