BlackRock Inc. is said to be in initial talks to purchase a minority stake in Millennium Management, the hedge fund led by Izzy Englander, which manages around $70 billion in assets.

Sources familiar with the negotiations suggest that these discussions are in the early stages and may not result in a final agreement. Both companies have chosen not to comment on the ongoing talks, which are confidential.

This potential partnership highlights BlackRock's ongoing interest in expanding its presence in the hedge fund industry.