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Hedge-Fund Billionaires Bet on London as Revival Gathers Pace

Steven Cohen is returning to London after shutting the U.K. offices of SAC Capital Advisors in 2013 amid a U.S. probe into insider trading.

Steven Cohen is returning to London after shutting the U.K. offices of SAC Capital Advisors in 2013 amid a U.S. probe into insider trading.

Photographer: Simon Dawson/Bloomberg

London’s fund industry is bouncing back, and U.S. billionaires Steven A. Cohen and Ken Griffin are grabbing a piece of the action.

Griffin’s Citadel and Millennium Management, a hedge fund run by Israel Englander, have bulked up in London, where asset growth is outpacing the U.S. Point72 Asset Management, the family office that oversees Cohen’s wealth, is plotting a return to Europe’s financial hub by year-end, said a person with knowledge of the matter.