Finance
Ex-Point72 President Haynes Abandons Plan to Start Hedge Fund
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Douglas Haynes, a former president at billionaire Steve Cohen’s Point72 Asset Management, has dropped plans to start his own hedge fund because of difficulties raising enough capital.
Haynes and his team planned to start Norias Research Group this year that was designed to back investment ideas churned out by analysts instead of hiring pricey portfolio managers. The move was meant to capture the soaring demand for multistrategy hedge funds.