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Steve Cohen s Point72 Raises $1 5 Billion After Melvin Capital Infusion

Steve Cohen’s Point72 Raises $1.5 Billion After Melvin Capital Infusion Bloomberg 2/3/2021 © Bloomberg Steve Cohen, chairman and chief executive officer of Point72 Asset Management. (Bloomberg) Steve Cohen’s Point72 Asset Management has opened to new cash and raised more than $1.5 billion in commitments in a matter of days, according to people familiar with the matter. Popular Searches The move comes after the hedge fund provided $750 million in emergency cash to Gabe Plotkin’s Melvin Capital, which was struggling with GameStop Corp. and other short bets gone sour. Citadel’s hedge funds, along with founder Ken Griffin and his firm’s partners, put $2 billion into Melvin. By the end of last month, Melvin sunk 53% after retail investors banded together online to push up the prices of GameStop and other popular targets of short-sellers.

Steve Cohen Give Mets Fans and Bondholders Something to Cheer - Article

Martin Z. Braun, Bloomberg News (Bloomberg) Steve Cohen, the new billionaire hedge-fund owner of the New York Mets, has given the team’s long-suffering fans something to celebrate. His deep pockets are also good for holders of about $600 million in municipal bonds issued to build Citi Field. Moody’s Investors Service Thursday put the ballpark’s Baa3-rated debt on review for an upgrade based in part on Cohen’s purchase of the team, “resulting in a sizable increase in ownership liquidity and balance sheet strength.” Cohen, founder of Point72 Asset Management LP and worth more than $10 billion, bought the Mets from the Wilpon family for about $2.5 billion.

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