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Point72 Asset Management
American hedge fund From Wikipedia, the free encyclopedia
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Point72 Asset Management is an American hedge fund. It was founded in 2014 by Steve Cohen, after his previous company S.A.C. Capital Advisors plead guilty to insider trading charges.
In 2018, the company reopened to external investors after a two-year ban and began accepting outside capital.[4] The company's office is located in Stamford, Connecticut.[6]
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History
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2014 to 2019
Point72 was founded in 2014 by Steve Cohen as the successor to SAC Capital, after the firm plead guilty to federal insider trading charges and paid a $1.8 billion fine.[7][8] In March 2014, SAC Capital transferred the bulk of its assets to Point72 and was placed in "run-off," or a winding-down of its operations.
Vincent Tortorella was hired as chief surveillance officer, and Kevin J. O’Connor was hired as an in-house attorney.[9]
In August 2014, Douglas D. Haynes was appointed president and Timothy Shaughnessy was appointed CEO.[10][11] Shaughnessy retired in 2018 and was replaced by Gavin O'Connor, who joined the firm from Goldman Sachs.[12]
In 2015, the firm created Point72 Academy,[13] a 15-month paid program to train college graduates to work for the firm,[14] and in 2016, the program began recruiting college graduates from Europe and Asia.[15] That same year, the firm started Point72 Ventures, a venture capital unit focused on developing financial technology.[16] In June 2025, Point72 Ventures helped fund series A for CX2, a military technology startup.[17]
There are satellite offices in New York City, West Palm Beach, Palo Alto, Hong Kong, Tokyo, Singapore, London, Paris, Sydney, and Warsaw.[18][19]
2020 to present
In August 2020, the firm closed to new money with just over $17 billion under management.[20][21][22]
In March 2020, Point72 hired Mo Grimeh as head of its macro investing business,[23] and created Point72 Hyperscale, a hybrid venture and private equity fund for early-stage AI technology companies.[24] In 2025, Point72 Turion began as a stock-picking hedge fund focused on AI.[25]
In January 2021, along with Ken Griffin's Citadel Investments, Point72 contributed $750 million to a $2.75 billion emergency bailout of Melvin Capital, a hedge fund that had incurred deep losses in the GameStop short squeeze;[26][27][28] Melvin Capital is run by Gabe Plotkin, a former protégé of Steven Cohen and one of the managers of SAC whose trades were investigated by the SEC.[29][26][30][31] In the first half of 2021, Point72 was reported to have lost $500 million on its investment in Melvin Capital.[32]
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Gender bias lawsuits
The New York Times reported that Haynes, who was hired as managing director for human capital and then became president, resigned in March 2018 "amid [a] gender bias lawsuit" and was replaced as president by Cohen.[33][34]
The firm has faced multiple lawsuits from employees alleging gender and pay discrimination.[35][36][37][38] In September 2020, Point72 settled a gender and pay discrimination suit brought by Lauren Bonner, the company’s former Head of Talent Analytics.[39][40]
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External links
References
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