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Point72 limits inflows as assets hit record $33.2bn

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Steve Cohen’s Point72 Asset Management is limiting new investor inflows in a bid to ensure it secures the best possible returns for existing clients, with AUM already sitting at a record high of $32bn, according to a report by Bloomberg.

The report cites an unnamed source familiar with matter as confirming the firm’s decision to limit inflows after it raised roughly $3.8bn over the past year.

New York Mets owner Cohen accounts for around a third of the firm’s current AUM, while external capital, which totalled $5.8bn at the end of 2018, makes up the rest. Point72 has attracted almost $12.8bn from outside investors since 2020.

Cohen’s multi-strategy firm is not alone in restricting new inflows, with Ken Griffin’s Citadel having been largely closed to additional capital since 2015, while Izzy Englander’s Millennium Management returned $15bn to investors at the end of 2022, completing its plan to lock up client capital for longer. Balyasny Asset Management, with about $21bn of assets, has also stopped accepting new investments.

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