NEW YORK, Jan. 25, 2021 /PRNewswire/ -- Melvin Capital Management ("Melvin") today announced that Citadel and its partners and Point72 have made investments into its fund.
"I am incredibly proud to partner with Ken Griffin and Steve Cohen," said Melvin Founder and CEO Gabriel Plotkin. "The team at Melvin is eager to get to work and reward the confidence of these two great investment icons."
The $2.75 billion investment includes $2 billion from Citadel and its partners and $750 million from Point72, and both are taking a non-controlling revenue share in Melvin.
"Gabe Plotkin and team have delivered exceptional results over the history of Melvin. We have great confidence in Gabe and his team," said Ken Griffin, Founder and CEO of Citadel.
"I've known Gabe Plotkin since 2006 and he is an exceptional investor and leader. We are pleased to have the opportunity to invest additional capital and take a non-controlling revenue share in Melvin Capital," said Steve Cohen, Chairman and CEO of Point72.
About Melvin Capital Management Melvin Capital Management LP is a registered investment advisor founded in 2014 by Gabriel Plotkin, the firm's Chief Investment Officer. The firm uses a bottom-up, fundamental research-driven process to identify investments employing a long-short equity strategy.
About Citadel Citadel is one of the world's leading alternative investment managers. Citadel manages the capital of prominent investors from around the world including retirement programs, endowments and foundations, and sovereign wealth funds. For more information, visit Citadel.com.
About Point72 Point72 is a global asset management firm led by Steven Cohen that uses Discretionary Long/Short, Macro, and Systematic strategies to invest in eight offices across the globe. We look for people who want to build a career with us – people who want to innovate, experiment, and be the best at what they do – while adhering to the highest ethical standards.
Point72 is headquartered in Stamford, Connecticut, and maintains affiliated offices in New York, Hong Kong, London, Tokyo, Singapore, Paris, and Palo Alto. We invest in a wide range of asset classes and situations through our businesses: Point72 Asset Management, EverPoint Asset Management, Point72 Ventures, Cohen Private Ventures, and Cubist Systematic Strategies.