A sign bearing SAC Capital Advisor's new name went up recently.
It’s a new day at 72 Cummings Point Road in Stamford, Conn., the swank home of what was formerly a corrupt hedge fund run by multibillionaire investor Steve Cohen.
As of Monday, Cohen’s former fund, SAC Capital Advisors, no longer exists.
In its place is a firm called a Point72 Asset Management, with a new logo, a new sign and a Web site.
The new name is part of the firm’s transition to a so-called family office that is managing Cohen’s $9 billion-to-$10 billion fortune.