Hedge Funds: Coronavirus Hits Point72 Management
Coronavirus has hit one of Wall Street’s top financial shops. Multiple media outlets report that an employee at Point72’s Hudson Yard’s office has contracted Covid-19. The Wall Street Journal was the first to report the news, citing an internal email from the fund.
The email says that the employee,who reportedly works in the firm’s back office, is “self quarantined at home, safe, and receiving ongoing care.”
The hedge fund has also conducted a deep cleaning of its office. The fund also requested that employees who worked on the 14th floor over the last two weeks work from home.
Coronavirus and Point72
Meanwhile, the hedge fund employs about 1,500 people in 10 countries.
“The health and safety of our employees is a top priority, and we are taking the COVID-19 situation seriously,” the company said.
“In addition to working closely with state and local health departments, we are taking precautions and preventive measures to protect our employees and maintain a healthy work environment.”
“We have extensive business continuity plans in place to ensure the Firm can continue to operate.”
Finally, New York City has experienced a large uptick in coronavirus infections. In addition, the state has quarantined a one-mile area of New Rochelle, New York out in Long Island.
Latest Alternative Investment News
Prices of Real Estate Investment Trusts and real estate operating companies plunged in March. Officers and directors of many REITs have stepped up to buy the shares the public has…
Steven A. Cohen, the founder of Point72 Asset Management, warned investors to be cautious about the current market environment. The fund manager suggested that the markets haven’t fully recovered from…
Thursday, April 2, marks the beginning of a new era of active, non-transparent ETFs. In a brave step considering the current market conditions, American Century Investments will launch Thursday two…
Dial-a-shared-shuttle startup Via raised $400 million in a Series E funding round led by Exor (BIT: EXO) at a valuation of $2.25 billion. Exor is a holding company of the…