Steven A. Cohen
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Billionaire investor Steve Cohen’s Point72 Asset Control is pulling out the $750 million it invested in Melvin Capital Control, Bloomberg Information reported on Saturday.
Point72 will quickly get started redeeming the cash in parts over the years, the file mentioned, mentioning folks aware of the subject.
Each Melvin Capital, based by means of Gabe Plotkin, and Point72 declined to remark.
Point72 has some other funding in Melvin, with that pool of cash closing untouched, in step with the file.
Melvin Capital, the hedge fund on the middle of the GameStop buying and selling frenzy, misplaced 49% on its investments throughout the primary 3 months of 2021.
Hedge fund managers Cohen and Kenneth Griffin had stepped in to help Plotkin in January closing yr with Griffin’s Fortress and Cohen’s Point72 including $2.75 billion to the company.
Melvin Capital misplaced 15% in January this yr.
