Khalid Malik’s stocks-focused hedge fund has restarted its business with fresh backing from Schonfeld Strategic Advisors, marking a new chapter for the firm after losing a much larger commitment from Millennium Management more than two years ago.
The development points to a significant reset for Malik’s fund. According to the report, Millennium had previously provided $1.5 billion in backing before exiting. The new investment from Schonfeld, another multistrategy investment firm, gives the business a path forward after that setback.
The shift also highlights how hedge fund managers can rebuild after a major capital partner pulls out. For a stocks-focused fund, securing support from a well-known multistrategy firm such as Schonfeld suggests renewed confidence in the manager’s ability to operate within a restructured setup.
While the available details are limited, the move appears to position Malik’s firm for a relaunch under a different capital relationship than before. In a competitive hedge fund market, the transition from Millennium backing to Schonfeld support stands out as a notable reset for the business.
