Ban Lifted, Steven Cohen May Soon Be Investing For Clients Again
Nicole Einbinder, 08 January 2018
Steven Cohen, the billionaire investor once known as “the hedge-fund king,” could soon be managing other people’s money again — assuming investors can look past the insider trading allegations that sunk his previous firm.
For the past two years, Cohen has been barred from managing money for clients under a 2016 agreement reached with the Securities and Exchange Commission for failing to properly supervise a former portfolio manager at his fund SAC Capital Advisors who was found guilty of insider trading.
That ban expired last week. Now, Cohen is taking steps that would allow him to once again manage outside capital.
Cohen has merged Stamford Harbor Capital, a firm he created in 2016, with his Point72 Asset Management, according to a Jan. 1 regulatory filing, and has reportedly begun reaching out to prospective investors. The combined company will operate as Point72 Asset Management.
