The LSE Directory / Hedge fund managers
Steven A. Cohen (born 1956) built one of the most profitable hedge fund operations on Wall Street through SAC Capital Advisors, which he founded in 1992. SAC Capital averaged approximately 30% annual returns from 1992 to 2013, widely attributed to Cohen's remarkable ability to synthesise information and his intensive trading culture. In 2013, SAC Capital pleaded guilty to securities fraud charges related to insider trading by employees and paid a $1.8 billion penalty, the largest ever for an insider trading case at that time, and converted to a family office. Cohen himself was not criminally charged and was barred from managing outside money until 2018. He relaunched his external fund as Point72 Asset Management, which now manages approximately $28 billion across multi-strategy approaches including equities, macro, and systematic trading. Cohen is also the principal owner of the New York Mets baseball franchise (acquired 2020 for $2.4 billion) and has been depicted in the TV series 'Billions' (character Bobby Axelrod is loosely based on Cohen).
