Point72 Offloads Fintech Stakes to New Fund Backed by Goldman Sachs

Steve Cohen, a billionaire and proprietor of the New York Mets, has repositioned some of his assets in fintech enterprises owned through his firm Point72.

Point72’s investment division, exclusively funded by Cohen, has transitioned ownership of certain fintech company shares to a newly established continuation fund valued at $280 million, as detailed in a press statement.

This newly created investment fund includes a significant contribution of more than $100 million directly from Point72, supplemented by capital from four additional financiers. Notably, Goldman Sachs Alternatives stands out as the principal external supporter. Other investors include the key figures from Portage, which manages $5.7 billion in financial technology investments. Portage will independently handle certain Point72 Ventures assets outside this new fund arrangement.

In the aftermath of this agreement, Tripp Shriner, a partner at Point72, will transition to become a general partner at Portage, with responsibilities over the fresh continuation fund.

Although the press release does not disclose the exact fintech enterprises transferred to the new fund, information from PitchBook highlights Point72’s investment in renowned fintech entities such as prediction market Polymarket, Argentina’s online bank Ualá, and cryptocurrency infrastructure firm Zerohash.

Despite this restructuring, Point72 continues to play a pivotal role as an investor in the newly formed fund. The transaction also benefits Cohen by offering liquidity, complementing his ventures in Major League Baseball as the owner of the New York Mets and a casino development project in proximity to their stadium in Queens.

Both Point72 and Goldman Sachs have not issued comments regarding these developments.