Steve Cohen’s SAC Capital Advisors is now Point72 Asset Management.
The Wall Street Journal reported that the new name, which will take effect next month, is a nod to the firm’s Connecticut address at 72 Cummings Point Road. The article added that the various funds at the firm will be renamed Point72, EverPoint Asset Management and Cubist Systematic Strategies.
Cohen’s personal investments will be managed by an entity called Cohen Private Ventures.
SAC, which pleaded guilty in November to insider trading, agreed to pay a record $1.8 billion fine and to be barred from managing external capital for five years. As a result, the firm is transitioning into a family office.
SAC, which had about $14 billion in total assets under management as of last year, is expected to manage about $9 billion once the firm completes its transition to a family office.