(Bloomberg) -- Point72 Asset Management, the hedge fund run by Steve Cohen, returned about 7 percent in the first half of the year, according to people familiar with the matter.
The Stamford, Connecticut-based firm was about flat in June, the people said. A spokesman for Point72 declined to comment.
The performance of Cohen’s hedge fund, which began trading outside money earlier this year, is in line with other multistrategy firms. Millennium Management rose almost 6 percent in the first six months of the year and Carlson Capital’s main Double Black Diamond fund gained 6.4 percent, Bloomberg previously reported. Ken Griffin’s main Kensington and Wellington funds at Citadel are leading the pack with an 8.8 percent return in the first half.
Cohen was banned from trading outside money for two years after his former firm, SAC Capital Advisors, pleaded guilty to securities fraud and agreed to pay a $1.8 billion fine. The ban ended on Jan. 1. Cohen wasn’t accused of wrongdoing.
Point72 has raised more than $4 billion in outside capital this year, according to a separate person familiar with the matter. The firm has beefed up its macro investing by hiring portfolio managers from Balyasny Asset Management. Point72 also snapped up employees from Morgan Stanley’s electronic trading desk, the Equity Trading Lab.
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