(Reuters) -Millennium Management has sold a 15% stake to a group that included some of its largest institutional investors, according to an internal email seen by Reuters.

The group now owns approximately 15% of the fund, the email sent to staffers showed. The equity investments were made through funds managed by Goldman Sachs' Petershill Partners.

Petershill invests in minority stakes in hedge funds and private equity firms.

The Financial Times reported the development earlier on Monday.

Millennium declined to comment. Goldman did not immediately respond to a request for comment.

Founded by billionaire Israel Englander, Millennium manages more than $79 billion across a range of asset classes including equities, fixed income and commodities.

Reuters had reported in June that Millennium was in talks to sell a minority stake at a $14 billion valuation.