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Steve Cohen Makes Money For Steve Cohen

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Point72 Asset Management, AKA the hedge fund formerly known as SAC Capital, whose largest client by far is a guy who answers to the name Steve Cohen, has turned in some pretty decent performance so far this year, despite a series of events that have led it to do stuff like, among other things, monetarily compensate employees for staying on the right side of the law.

That family office, Point72 Asset Management, continues to outperform many hedge funds this year — even after the firm took a bit of stumble during the recent sell-off in the United States stock markets. Point72, which opened for business in the spring managing about $10 billion, mostly Mr. Cohen’s own money, is said to have generated a year-to-date gross profit of about $1.8 billion, said a person briefed on the matter but not authorized to speak publicly. The firm has generated gross trading profits of about $800 million since the summer.

New Name, New Office, Similar Performance For Steve Cohen [Dealbook]


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