Steve Cohen’s Point72 Closing to New Money After Raising $10 Billion
- Hedge fund opened to outside capital in early 2018 after ban
- It also hired Denis Dancanet to run the quantitative business
Photographer: Emile Wamsteker/Bloomberg
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Steve Cohen’s Point72 Asset Management told clients it will close to new investments next month, after raising $10 billion since it started managing outside capital less than three years ago.
Point72 was one of the biggest launches of 2018, when Cohen returned to the industry after a two-year ban from managing other people’s money. His prior firm, SAC Capital Advisors, pleaded guilty to securities fraud and paid a $1.8 billion fine. Cohen wasn’t charged with wrongdoing.