Hedge funder Julie Macklowe to form new company for fashion investments

Julie Macklowe is moving from hedges to hemlines. The wife of real-estate heir Billy Macklowe, who now has his own company, last week closed her $250 million hedge fund, Macklowe Asset Management, with plans to form a company to invest in fashion businesses, reports the Hedge Fund Alert newsletter. Julie’s fund was launched with the backing of Israel “Izzy” Englander‘s Millennium Partners, and Millennium was the fund’s only client. Her move to fashion comes as no surprise since Macklowe is a regular in the pages of Vogue and Women’s Wear Daily. She couldn’t be reached for further comment.