Steve Cohen (NY Mets Twitter)
Point72, a global asset management firm led by Steven A. Cohen – owner of the Major League Baseball Team the New York Mets – that invests in multiple asset classes and strategies worldwide had a really great 2022 in spite of the worldwide financial crisis that saw firms everywhere lose much of their value on paper as stock markets plunged. According to the publication Financial Times, Point72 posted a 10.3% net gain in 2022.
Forbes estimates that Steve Cohen has a personal net worth of $17.5 billion. Point72 Asset Management oversees about $26 billion in investments.
FT further reported that Point72 received government approval to operate directly in the United Kingdom; even though, around ten years ago the US firm pled guilty to insider trading charges and paid a record $1.8 billion in fines. So, now the firm will be permitted to offer British investors opportunities to invest in its funds to be listed under the name Point72 Europe.
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The Financial Conduct Authority – the British version of the SEC- had prevented Pont72 from dealing directly with British investors in the past. But now the FCA says the firm is in compliance with regulation adding, “Where firms can demonstrate they meet the standards necessary for authorization, the FCA has no right to refuse,”
A spokesperson for Point72 told Financial Times, “London is a key financial center and home to some of our industry’s brightest talent. We welcome our authorization with the FCA and look forward to continuing to grow our business in the UK.”
Steven A. Cohen is the Chairman and Chief Executive Officer of Point72, a 2,000+ person registered investment advisor. Mr. Cohen founded S.A.C. Capital Advisors in 1992 and converted his investment operations to the Point72 Asset Management family office in 2014.
Mr. Cohen has leveraged his lengthy career in the public markets to found Point72 Ventures, a global venture capital strategy, and Point72 Hyperscale, a private equity strategy that seeks to drive value creation through applied AI.
