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Alternative Market Briefing

Despite recent losses, Citadel and Point72 back Melvin Capital
Tuesday, January 26, 2021

Bailey McCann, Opalesque New York:

Hedge fund Melvin Capital has received an influx of $2.75 billion despite losing 30% this year. The cash comes from Citadel and Point72. Citadel is investing $2 billion and Point72 is providing the remaining $750 million. Another $1 billon may yet come from other outside investors.

Gabe Plotkin who leads Melvin Capital was previously with SAC Capital Advisors.

Melvin has had a strong track record since inception, but has found itself on the wrong side of a few trades this year. Melvin is short GameStop, a stock which has been caught up in a daytrading battle. Reta......................

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