GRMA Principal, Sam Won comments on Cohen’s hedge fund launch/comeback in Business Insider.
Steve Cohen, the billionaire who ran one of Wall Street’s most infamous hedge funds, is trying to stage a big comeback. Less than four years after his old firm pleaded guilty to insider trading, Cohen is launching a new fund, reportedly with a goal of managing as much as $20 billion.
That’ll include $11 billion already in his family office, The Wall Street Journal reports, adding that Cohen plans to raise another $9 billion from outsiders. If he does start with $20 billion, it would be the biggest US hedge-fund launch in history, according to the industry publication Absolute Return.
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