Formerly Working For Steve Cohen Still Good For About $1 Billion


Obviously the caveat here is that you probably can't have been convicted of securities fraud but hey, at this point, it's better than one would've expected*! (*What one would've expected, obviously, is that having SAC on your résumé would be like having a giant scarlet 'S' on your chest.)

Gabriel Plotkin, who was one of billionaire Steven A. Cohen’s top money managers, raised about $700 million for his new hedge fund, according to two people with knowledge of the matter. Plotkin, 36, has posted a 0.8 percent gain in his fund, Melvin Capital, since it started trading on Dec. 11, said one of the people, who asked not to be identified because the information is private. Melvin Capital expects to manage $900 million by Feb. 1, the other person said. Plotkin declined to comment on the fundraising.

Ex-Point72 Manager Plotkin Is Said to Raise $700 Million [Bloomberg]

Related: Departure Watch ’14: SAC Capital