Point72, the hedge fund led by billionaire Steve Cohen is expanding its macro trading team, according to a report by Bloomberg. According to the report, Cohen's hedge fund is seeking to diversify its business, valued at $31bn.
The report quoted a spokesperson as saying that the team would make two new hires in the coming year, with the unit having 51 macro trading teams in total. The unit is currently headed by Mo Grimeh.
The hedge fund, which has more than 185 teams saw returns of 9.8% in 2023.
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