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Citadel, Point72 to Invest $2.75 Billion Into Melvin Capital Management – The Wall Street Journal

Investments are for non-controlling revenue shares in the hedge fund, which is down nearly 30% for 2021 through Friday

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Citadel LLC and Point72 Asset Management are investing $2.75 billion into hedge fund Melvin Capital Management, which has been hard hit by a series of short bets to start the year.
The influx of cash is expected to help stabilize Melvin, which in 2021 has lost 30% through Friday, said people familiar with the firm. Melvin started the year with $12.5 billion and had been one of the best performing hedge funds on Wall Street in recent years. The losses stem from Melvins array of short bets against…

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