Point72 Asset Management Now Has A Unit Called "Creating Rubric Capital"

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Now that certain formerly lucrative strategies have been declared not kosher—for now—the former SAC Capital Advisors is looking for some new edge, preferably on the lighter side of the gray area. Like perhaps a multi-strategy fund with a value bias, which provides an opportunity for SAC’s crack naming department to do a little better than it did last time around.

“Creating Rubric Capital provides an ideal structure for David’s deep-value, generalist strategy, given the firm’s recent reorganization,” Point72 President Douglas Haynes wrote in the memo. “Rubric also demonstrates that the firm is committed to retaining our most talented” money managers, he said.

Point72 Starts Multistrategy Unit as Cohen Diversifies [Bloomberg]

Earlier: Steve Cohen Forced To Pretend He Needs Help With Stuff

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