Point72 Starts Multistrategy Unit as Cohen Diversifies
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Steven A. Cohen’s Point 72 Asset Management plans to start a multistrategy unit next month as the former hedge-fund manager continues to reorganize his investment firm.
The new unit, Rubric Capital, will trade across asset classes with a focus on undervalued securities, according to a memo sent to employees, a copy of which was obtained by Bloomberg News. It will be led by David Rosen, who joined Cohen’s hedge fund SAC Capital Advisors in 2006 and manages investments that include credit.