Steve Cohen’s Point72 to Redeem $750 Million From Hedge Fund Melvin

Steve Cohen’s Point72 Asset Management is pulling the $750 million it invested in Melvin Capital Management. 

Point72 will be redeeming the money in portions over time, starting shortly, according to people familiar with the matter. Cohen’s firm follows Citadel in such a move. The latter began asking for some of its cash back last year and by January had requested to receive about $1.5 billion of the $2 billion it invested.