One part of Jain Global is up in the air as its deal with hedge fund giant Millennium moves ahead

Bobby Jain, left, is returning external capital to exclusively manage money for Izzy Englander's Millennium. Patrick McMullan via Getty Images The proposed tie-up between Izzy Englander's Millennium and Jain Global was announced nearly a month ago. Since then, Jain Global has told employees to maintain the status quo. The one business unit with questions is the firm's fundamental equities division, led by Townie Wells. When Izzy Englander's Millennium and Jain Global announced an exclusivit...