Point72 Said to Close Rubric Capital as David Rosen Departs
- Rosen is said to have left Steven Cohen's firm last week
- Rubric employees to be moved to other roles with Cohen's firm
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Steven A. Cohen’s Point72 Asset Management is closing a multistrategy unit after the head of the business left last week, according a person familiar with the matter.
David Rosen, who led the value-focused Rubric Capital Management, departed on Friday, said the person, who asked not to be identified because the information is private. Rubric, which traded across asset classes with a focus on undervalued securities, will shutter and some members of Rosen’s team will be moved elsewhere within the firm.