Billionaire hedge fund manager Steve Cohen can start taking outside money again

Billionaire hedge fund manager Steve Cohen has a new firm that's allowed to raise outside capital.

Cohen indirectly owns "more than 25%" of the newly-launched Stamford Harbor Capital and will not supervise anyone working on behalf of it, according to a regulatory filing.

Cohen in January was barred by the SEC from supervising funds that manage outside money until 2018.

The ban was to settle charges for failing to supervise a former portfolio manager who engaged in insider trading at SAC Capital, Cohen's former hedge fund.

SAC pleaded guilty to securities fraud in 2013 and paid a $1.8 billion fine. Cohen, who wasn't charged, returned SAC's outside capital and transformed it into his family office, Point72 Asset Management.

Bloomberg's Miles Weiss first reported the new firm.

Read the regulatory filing here »

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