Point72, the hedge fund firm run by billionaire investor Steve Cohn is to redeem the USD750 million it invested in Melvin Capital, according to a report by Bloomberg.
Point72, the hedge fund firm run by billionaire investor Steve Cohn is to redeem the USD750 million it invested in Melvin Capital, according to a report by Bloomberg.
The firm is reportedly planning to withdraw the fund in stages, beginning shortly, but will leave another investment in Melvin untouched, according to the report.
The decision to redeem the funds follows a similar decision by Ken Griffin’s Citadel which began request its cash back last year and had redeemed USD1.5 billion of a total investment pool of USD2 billion by January.
