Steven Cohen’s investment firm is looking for an edge in public data.
Bloomberg News reports that Point72 Asset Management, the successor to Cohen’s hedge fund SAC Capital Advisors, has hired about 30 employees since the start of last year to build computer models that collect publicly available data and analyse it for patterns, according to two people with knowledge of the matter.
The hires are part of a project to expand quantitative investing, dubbed Aperio, that’s spearheaded by President Doug Haynes, said Mark Herr, a spokesman for the Stamford, Connecticut-based firm. Point72 is in the process of hiring a manager to oversee the strategy, he said, declining to comment on the number of professionals the firm has brought in so far.
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