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Steven Cohen's Point72 raises $1.5 bln - Bloomberg News

Feb 2 (Reuters) - Billionaire investor Steven Cohen’s Point72 Asset Management has opened to new cash and raised more than $1.5 billion in commitments, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Point72 is raising the money because it sees investment opportunities in the market, the report said. bit.ly/3oJeX8S

Point72 did not immediately respond to a Reuters request for comment.

The move comes after Point72 gave Melvin Capital, a fund that held a large short position in video-game retailer GameStop , a capital infusion of $750 million that enabled it to close out that position with a large loss.

Point72 has suffered a nearly 15% loss this year due to the sudden surge in shares of GameStop, the New York Times reported last week.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Aditya Soni

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