Finance
Point72 Plans to Return Billions as Big Hedge Funds Cap Assets
- Peers including Citadel and Millennium have handed back cash
- Point72’s assets have ballooned to a record $35.2 billion
Steve Cohen
Photographer: Jim McIsaac/Getty ImagesThis article is for subscribers only.
Billionaire Steve Cohen’s Point72 Asset Management is preparing to return some capital to investors for the first time, joining multistrategy hedge fund peers looking for ways to restrict their assets after a period of explosive growth.
The firm is considering handing profits to clients after the end of the year, according to people with knowledge of the matter. The amount could run into billions of dollars, the people said, asking not to be identified because the details are private. The people couldn’t say with certainty how much would be returned as the details are yet to be firmed up, and said the plans could still change.