Cohen’s Comeback Revisited

In a follow-up to an article it published a few days earlier, Bloomberg recently reported that hedge fund manager Steven Cohen “is preparing to raise as much as $10 billion from outside investors in 2018 for a new fund.” The move, the article says, would represent an “extraordinary turnaround” for Cohen, particularly given that his former firm, SAC, got bad press four years ago on its guilty plea to insider trading for which it paid a “record $1.8 billion penalty.” The article suggests that Cohen’s efforts could be an attempt to save face with investors, but argues that if he […]

Cohen Preparing for a Comeback

Billionaire Steve Cohen, the former head of the firm SAC Capital Advisors—which pleaded guilty to securities fraud in 2013 and agreed to pay a record $1.8 billion fine—is considering starting a new hedge fund, according to a recent Bloomberg article. While Cohen wasn’t charged with wrongdoing in the case, he was barred from managing outside capital until January 1, 2018 and was required to convert his shop to a family office. According to the article, his “returns are just beginning to rebound after 18 months of barely making money at his family office, Point72 Asset Management. He’s now up about […]