09:23 AM EDT, 08/15/2025 (MT Newswires) -- (Updates with Goldman Sachs' ( GS ) response in the sixth paragraph.)

Goldman Sachs ( GS ) is offering clients stakes in Millennium Management starting at $1 million, Bloomberg News reported Friday, citing documents being circulated by the bank.

Millennium, which manages more than $78 billion, is reportedly seeking buyers for a 10% to 15% equity stake at about a $14 billion valuation, potentially raising $2 billion.

About half the capital would come from Goldman's Petershill unit, with the rest from Millennium approaching large institutions such as sovereign wealth funds, the news outlet reported.

Goldman is said to be marketing the opportunity to wealthy clients and even employees at rival hedge funds, Bloomberg News reported.

Petershill will invest via a special-purpose vehicle that charges a 1% management fee and 10% carry, while direct institutional buyers avoid these fees, the media outlet reported.

Goldman Sachs ( GS ) declined to comment when reached by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)