Point72 Launches $1B Private Credit Fund

Steve Cohen’s $41.5B hedge fund, Point72 Asset Management, is expanding into private credit with a $1B evergreen vehicle led by Todd Hirsch, formerly of Blackstone. The fund aligns with Point72’s long-term, diversified capital strategy, with Cohen himself investing alongside external LPs.

This move reflects a broader evolution in the alternatives landscape. Major hedge funds like Millennium and Jain Global are deepening their exposure to private markets, eroding the traditional divide between hedge funds and private capital managers.