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.
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So the people didn’t exactly flock to his door and pour the billions he expected into his lap. But a few were nice enough to give him $5 billion, and he didn’t have to break a sweat.

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“It was actually not hard,” Mr Cohen told a sold-out audience of his fund-raising at a 92nd Street Y event, which included former New Jersey governor Chris Christie.

“I did only 10 or 15 meetings, it was really easy,” he said.

Doing something with that money over the next few years? Yea, that’s another story.

“I don’t think returns over the next two years are going to be very good. If the market hangs in there, there’s just going to be marginal returns.”

Lest, however, you think that old Steve Cohen confidence had ebbed, think again.

At one point, interviewer Glenn Fuhrman, the co-founder of MSD Capital, pointed out to Mr Cohen that he was “not Warren Buffett”.

“And Warren Buffett’s not me,” he responded.

Steve Cohen raises $5bn from outside investors [FT]

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