Steve Cohen's Point72 Hedge Fund Employee Infected With Coronavirus

Steve Cohen’s Poing72 hedge fund becomes one of the first financial firms in New York to be affected by the coronavirus.

What Happened

An employee that worked at the fund’s Hudson’s Yard location in Manhattan is infected with the Covid-19 virus, reported the Wall Street Journal quoting an internal email of the fund manager.

The fund is in contact with state and local health departments, and the employee is currently “self quarantined at home, safe and receiving ongoing care.”

Point72 is conducting a deep cleaning of its offices at Hudson’s Yard. Employees that had been working on the 14th floor over a period of the past two weeks have been asked to work from home for the next 14 days. 

The company is owned by Steve Cohen, a billionaire hedge fund manager.

Why It Matters

Point72 employs more than 1500 workers in 10 countries around the world and has $16.1 billion assets under management, as of January 2020.

New York has the most Covid-19 infections in the U.S., as of Monday afternoon. Between Friday and Monday, there was an increase of 216% in Covid-19 infections in the tri-state area. The number of infected rose from 49 to 156.

Governor Phil Murphy of New York declared a State of Emergency on Monday to deal with the epidemic.