We've seen the numbers for Steve Cohen's big hedge fund comeback, and they're solid but not spectacular
- Steve Cohen's hedge fund Point72 is up a little in its first few months managing outside money, according to an investor document seen by Business Insider.
- Point72's gains through April are around 4.6%, compared to a 1% drop in the S&P 500.
Billionaire Steve Cohen's hedge fund Point72 is up, but not by much, in its first few months managing outside money since his firm shut for insider trading.
Through March of this year, the fund is up 3.3% after fees, according to an investor document seen by Business Insider. The returns for 2018 are:
- January: +3.49%
- February: -1.03%
- March: +0.88%
A person familiar with the numbers said in April the fund gained 1.3%. That would bring Point72's gains to 4.6% through April, compared to a 1% drop in the S&P 500.
Jonathan Gasthalter, a spokesman for Point72, declined to comment.
Point72 opened to outside capital in February. It had previously been run as a family office after it closed in 2014 when its predecessor firm, SAC Capital, pled guilty to insider trading.
The document also shows historical performance for the fund, including when it was run as Cohen's private family office.
- 2016: +12.6%
- 2015: +3.02%
- 2014: +12.7%
Business Insider reported earlier this year that Cohen had amassed at least $3 billion in outside capital for his new fund. That figure included 20 institutions that wrote checks of $100 million each.
Earlier this year, a female employee, Lauren Bonner, filed a lawsuit alleging widespread gender discrimination at the fund, including stark wage discrepancies between men and women for the same work. Doug Haynes, the firm's former president who was named in the suit, left in the aftermath. Point72's head of human resources, Mike Butler, is set to leave, too, Business Insider reported Tuesday.
The pair had previously been brought in to revamp Point72's culture following SAC Capital's closure for insider trading.