Point72 Makes Largest-Ever Bet on Its Star Trader’s Launch
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000One of Point72 Asset Management’s star traders is leaving to launch his own hedge fund and has secured the largest initial backing the firm has ever granted to a departing trader. Veteran portfolio manager Alex Silverstein is spinning out his health-care trading team and the money it manages to start Sirenia Capital Management, according to an internal Point72 memo seen by Bloomberg. Point72 will be the largest day-one client of Sirenia, investing hundreds of millions of dollars into the fund, according to a person with knowledge of the matter.