Chris Tuzzo and Warren Empey, who used to work at Kepos Capital, have been hired by Millennium Management to manage approximately $800 million under the NorthArrow Capital brand.

They will be implementing a merger arbitrage strategy as part of their investment approach.

In addition, Scopia Capital, which currently manages around $1.2 billion in assets, will handle Millennium's cash in a separately managed account.

Scopia will continue to use its established equity long-short market neutral strategy, which has been in place since 2001.