Point72, Balyasny Led Decline Among Big Multi-Strategy Funds
- Early September market shift ‘drew blood,’ Credit Suisse says
- Gelband’s ExodusPoint among winners, gaining 0.4% last month
Photographer: Emile Wamsteker/Bloomberg
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Billionaire Steve Cohen led losses among his biggest multistrategy hedge fund peers last month as sweeping market shifts blindsided investment managers.
Cohen’s $15 billion Point72 Asset Management fell about 2%, trimming gains this year through September to more than 10%, according to people familiar with the matter. Balyasny Asset Management lost 1.4% in the month, paring year-to-date performance to about 9%. Izzy Englander’s Millennium Management fell 0.5% in the U.S. version of its main vehicle, while Ken Griffin’s $32 billion Citadel lost 0.2% in its flagship fund, trimming returns for 2019 to about 6.5% and 14%, respectively.