Report: Point72 Launches Private Credit Strategy with Ex-Blackstone Director

Steven Cohen’s Point72 Asset Management has reportedly hired former Blackstone senior managing director Todd Hirsch to launch and lead a new private credit strategy, according to multiple media reports. 

Hirsch will reportedly be charged with managing the hedge fund’s private credit and asset-backed investments portfolio that will target the technology, business and financial services, healthcare IT, insurance and payments sectors. The private markets veteran, who also previously worked in executive positions at Deutsche Bank and Littlejohn & Co, will oversee Point 72’s new business under what founder Cohen describes as an on-demand private credit environment that “continues to exceed supply.”

The multi-strategy hedge fund said it currently manages $35.3B in aggregate AUM, as of July 1.