Point72 Asset Management, the firm that manages Steven A. Cohen’s $11 billion fortune, gained a net 11 percent for the year through June, according to a person with knowledge of the returns.
The family office’s performance compares with a 1.2 percent advance for the Standard & Poor’s 500 Index, including dividends, for the six months. Hedge funds on average returned 3.7 percent, according to data compiled by Bloomberg.
Point72, based in Stamford, Connecticut, is the successor to SAC Capital Advisors, the hedge fund firm that pleaded guilty to securities fraud two years ago and stopped managing money for clients as a part of a $1.8 billion settlement with U.S. prosecutors. Point72 also beat markets in the first quarter, with a 7.5 percent gain.
The person providing the returns asked not to be named because the information is private. Jonathan Gasthalter, a spokesman for Point72 at Sard Verbinnen & Co., declined to comment on the returns.
Citadel, the Chicago-based hedge fund run by billionaire Ken Griffin, posted a 1.2 percent gain last month in its two main funds and a 9.4 percent return for the first half, according to a person briefed on the matter. The firm, which manages $26 billion, climbed 1.6 percent in June in its global equities fund, bringing its year-to-date return to 10 percent.