Steve Cohen’s new family office, Point72 Asset Management, had a good year.
Matthew Goldstein at Dealbook reports that the firm, which now manages only Cohen’s family money, made a gross profit of $US2.5-3 billion in 2014 after launching in April with about $US10 billion.
The $US2.5-3 billion figure doesn’t take into account operating costs, but it’s pretty good for a guy who just got out from under the thumb of federal prosecutors eight months ago — particularly since hedge funds averaged a return under 4% last year.
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