Point72 Asset Management, the investment firm that oversees billionaire trader Steven A. Cohen’s wealth, agreed to lease office space in London’s upmarket district St. James as the firm plans to return to the U.K. capital.
Point72 expects to close in the coming days on a contract for 7,100 square feet at 8 St. James’s Square, Point72 President Doug Haynes, said in a memo to employees on Wednesday. The firm, based in Stamford, Connecticut, plans to start trading in London in the first quarter of 2016 if not sooner, he said.
Cohen is returning to London after shutting the U.K. offices of his SAC Capital Advisors in 2013 amid a U.S. probe into insider trading. Point72 has begun interviewing money managers and analysts for London roles, a person with knowledge of the matter said in July.
Hedge funds and private-equity firms are on track to lease a record amount of space in London’s Mayfair & St. James’s neighborhoods this year as an influx of wealthy investors makes the city a more attractive location.