Selling Steve Cohen - Dealbreaker

Selling Steve Cohen

“Yea, about that headline/lawsuit/etc.”
Author:
Updated:
Original:

As you may have heard, Steve Cohen’s triumphant return to the hedge fund has been somewhat less than, uh, triumphant. Dreams of $10 billion in other people’s money to play with have faded into the $3 billion reality. And instead of parades and flash mobs and burning effigies of Preet Bharara, the grand re-entry was marked with a sex discrimination lawsuit from the woman charged with helping the great man drum up some decent talent for a change.

stevecohen6

Still, there are massive tax bills to pay, and so Cohen persists. And since his former chief fundraiser did such a lousy job getting eight figures in outside capital into Point72, that job, like manyothers, is being brought back within Cohen’s orbit. Congratulations, Laura Sterner: You get to explain away Point72’s unpleasant headlines to prospective investors and prove that Steve Cohen’s totally cool with high-ranking women at the same time.

Laura Sterner was named Head Capital Development and Investor Relations, Cohen said in a news release on Tuesday. Sterner originally joined Point72 in 2015 and returned earlier this year when Cohen folded Stamford Harbor Capital, an entity he owned and where she had been working, into Point72….

Sterner will be the firm’s first in-house marketer since Doug Blagdon, who held that position at SAC for years, left after the settlement. Cohen initially worked with Blagdon’s firm, ShoreBridge Capital Partners, to gauge interest in a new hedge fund but has now brought all fundraising and investor relations back in-house.

Point72 promotes executive to lead marketing effort [Reuters]

Related

stevecohen6

FYI: Steve Cohen Is Still Steve Cohen

Black or otherwise, the Big Guy’s still got an edge.

stevecohen6

Steve Cohen Commissioning Super Duper Sushi Truck

The Point72 chief needs an appropriate way to celebrate all of the money he’s going to make in Japan.

stevecohen6

This Is Not Going Precisely As Steve Cohen Planned

He may have to do this new hedge fund thing by himself and for free, just to prove that he can.

stevecohen6

Steve Cohen Giving Point72 That New SAC Smell

Did you join the former family office in the last four years? Perhaps you'd also like to retire.

By kloniwotski (Flickr) [CC BY-SA 2.0], via Wikimedia Commons

Steve Cohen’s Breturn Stymied

Tea and sympathy for Point72, but no asset-management license.

stevecohen6

Steve Cohen: Thanks For the $5 Billion, Apologies For What I’m Gonna Do With It

As it turns out, now was perhaps not the best time to get back into hedge funds.

stevecohen6

Steve Cohen’s Not-So-Crack Naming Unit Stumbles Upon Decent Handle

The only problem is another money manager’s been using it for almost 20 years and isn’t interested in sharing.