- REUTERS/Steve Marcus
Billionaire hedge fund manager Steve Cohen has a new firm that’s allowed to raise outside capital.
Cohen indirectly owns “more than 25%” of the newly launched Stamford Harbor Capital and will not supervise anyone working on behalf of it, according to a regulatory filing.
Cohen in January was barred by the SEC from supervising funds that manage outside money until 2018.
The ban was to settle charges for failing to supervise a former portfolio manager who engaged in insider trading at SAC Capital, Cohen’s former hedge fund.
SAC pleaded guilty to securities fraud in 2013 and paid a $1.8 billion fine. Cohen, who wasn’t charged, returned SAC’s outside capital and transformed it into his family office, Point72 Asset Management.
Bloomberg’s Miles Weiss first reported on the new firm.