Steven A. Cohen’s Point72 Asset Management made a gross profit of at least $2.5bn in 2014, according to a person familiar with the matter.
Bloomberg reports that billionaire Cohen has been managing about $10bn of his own money at Point72 after closing down his former hedge fund SAC Capital Advisors to settle insider trading charges against the firm. The family office’s profit doesn’t take into account operating costs, said the person, who didn’t provide returns after expenses, or a percentage gain for the year.
SAC pleaded guilty in 2013 to making hundreds of millions of dollars in illegal profits and fostering a criminal culture.
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