Billionaire investor Steve Cohen is reportedly edging closer to launching his new fund
Point72
That trove "will include due diligence documents, track records and other information investors need to decide whether they will pony up cash for the new firm, Stamford Harbor Capital."
Cohen's new fund, expected for early next year, comes after months of flat performance at his family office, Point72 Asset Management. People familiar with the matter say that Cohen has recently put up better numbers; Bloomberg put those numbers at about 5% this year.
Recent performance has troubled Cohen, people familiar with his thinking have told Business Insider. Cohen is unsure whether the firm can put up as strong of returns as SAC, which was known to return about 30% annualized, according to these people.
Cohen had previously been barred from managing outside capital until the start of 2018 after SAC pleaded guilty to securities fraud in 2013. Cohen wasn't charged with wrongdoing.
Jonathan Gasthalter, a spokesman for Stamford Harbor, declined to comment.
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 11 must-visit tourist places in Nainital in 2024
- Indegene's ₹1,842 crore IPO to open on May 6
- BSE shares tank nearly 19% after Sebi directive on regulatory fee
- Nainital bucket list: 9 experiences you can't miss in 2024
- Sanju Samson likely to be India's first-choice wicketkeeper for T20 World Cup
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market