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Point72 extends investor exit period to three years

Дата публикации: 25-09-2026 10:32:00

Point72 Asset Management is extending the time investors need to fully withdraw capital from its flagship multi-strategy hedge fund, adding the firm to a growing group of major managers tightening redemption terms, according to a report by Bloomberg.Investors in Point72’s multi-strategy fund will be able to redeem 8.33% of their capital each quarter under new terms taking effect at the beginning of next year, according to people familiar with the matter. That means investors could require as long as three years to withdraw their entire allocation.The current structure allows investors to redeem up to 25% of their capital each quarter, enabling a full exit within 12 months.Point72, founded by Steve Cohen, managed approximately $58.5bn as of 1 July. A representative for the firm declined to comment on the change.The move follows similar steps by other large multi-strategy hedge funds, including Millennium Management, Rokos Capital Management and DE Shaw, as managers seek to secure more stable pools of capital.DE Shaw has been extending the full redemption period for its flagship fund to four years, while Millennium has introduced a share class requiring investors to remain invested for at least five years to exit completely. Rokos has also moved to lengthen withdrawal periods for some investors, with certain clients facing a three-year exit window.The changes reflect the value large hedge fund managers place on predictable, longer-term capital. Longer redemption periods can reduce the risk of substantial withdrawals during periods of market stress while giving firms greater visibility over the capital available to support investment strategies, infrastructure and employee compensation.

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