Steve Cohen J/K About That Whole Stamford Harbor Capital Thing

SHC is no longer part of SAC’s plan, if it ever was.
Author:
Publish date:
Updated on
By OnceaMetro (Own work) [CC BY-SA 3.0], via Wikimedia Commons

By OnceaMetro (Own work) [CC BY-SA 3.0], via Wikimedia Commons

Steve Cohen has not yet launched his new hedge fund. But it already has a lockup, a fee structure, an asset target and an openness to things cryptocurrent. And now, it has a name.

When Steve Cohen takes in outside capital later this quarter, he’ll be doing so under the name Point72 Asset Management.

But wait, you say: That’s the name of his post-SAC Capital Advisors venture, the family office running $11 billion of his own money that he was just so excited to start. His new hedge fund, the one that will be open to outside money, that’s called Stamford Harbor Capital. Surely there must be some mistake.

Stamford Harbor Capital, the firm that Cohen created in 2016 and has been working with marketers to explore raising money from clients, merged with Point72 Asset Management, according to a Jan. 5 regulatory filing. The new entity will use the Point72 name, the filing said.

Which means that set up SHC just to show that he could? To really stick it to Preet Bharara one last time? ‘Cause it’s pretty clear that, as one might have suspected all along, there was never going to be any real daylight between the two, which are now one, and which might as well just rename itself SAC Capital Advisors and pretend that the last four years didn’t happen.

Cohen to Manage Outside Money Under Point72 Asset Management [Bloomberg]

Related