Fund launches & closures

Millennium PM preps real estate equity fund

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Eduardo Abush is spinning out his successful REIT, consumer, industrial and financial strategy.

A longtime Millennium Management portfolio manager is starting his own firm.

Eduardo Abush is preparing the launch of New York-based Waterfront Capital Partners, which will retain the same name as well as the strategy he used to produce strong returns at Izzy Englander's $17.2 billion multi-manager firm.

Abush was a real estate-focused PM at Millennium from March 2005 through December 2009. He launched Waterfront within Millennium in January 2010, focusing on real estate-related stocks, including consumer, industrial and financial sector companies and real estate investment trusts. Waterfront managed capital exclusively for Millennium despite having its own brand.

Waterfront will now