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Revision as of 18:43, 10 October 2019 by Wiltonio (talk | contribs) (→History)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff) Investment management firm| Company type | Limited liability company |
|---|---|
| Industry | Investment Management |
| Founded | 2014 |
| Headquarters | New York, New York, United States |
| Key people | Gabriel Plotkin, Founder and Chief Investment Officer |
| AUM | US$7 billion (June 2019) |
| Website | www |
Melvin Capital Management is a New York City-based investment management firm founded in 2014 by Gabriel Plotkin. It invests primarily in tech and consumer stocks and is reported to have $7 billion in assets under management, as of June 2019.
History
Plotkin founded Melvin Capital in late 2014, naming the fund after his late grandfather who was a small-business owner. He raised nearly $1 billion dollars.
In its first full year in operation, Melvin Capital had returns of 47%, ranking it 2nd in Bloomberg’s 2015 list of top-performing funds with $1 billion or more in assets under management.
In 2017, the fund finished up 41%. Current notable investments include Chewy.com, Amazon.com, Las Vegas Sands, and Alibaba.
Prior to starting Melvin Capital, Plotkin was a trader at SAC Capital where he managed a portfolio of mostly consumer stocks valued at about $1.3 billion. According to The Wall Street Journal, about one-third of the gains in 2019 from Steve Cohen’s current hedge fund, Point72, came from Melvin Capital Management LP.
References
- ^ Goldstein, Matthew (15 August 2014). "A Former Top SAC Capital Trader Names New Hedge Fund". The New York Times. Retrieved 21 July 2019.
- ^ Saacks, Bradly (28 June 2019). "One of this year's top hedge funds has been $7 billion Melvin Capital run by a former top money-maker for Steve Cohen". Business Insider. Retrieved 15 July 2019.
- Alden, William; Goldstein, Matthew (17 February 2015). "Seeing Value After a Plunge, Hedge Funds Bet on Energy Stocks". The New York Times. Retrieved 15 July 2019.
- Foxman, Simone (23 February 2016). "This SAC Alum Stands Out in Hedge Fund Rankings". Bloomberg News. Retrieved 15 July 2019.
- "Hedge fund rankings 2015". Bloomberg. 29 February 2016. Retrieved 15 July 2019.
- Vardi, Nathan (17 April 2018). "The 25 Highest-Earning Hedge Fund Managers And Traders". Forbes. Retrieved 15 July 2019.
- "Melvin Capital - Current Investments". Fintel.io. Retrieved 10 October 2019.
- Levy, Rachael (5 August 2019). "An Outside Hedge Fund Is Driving Steve Cohen's Gains". The Wall Street Journal. Retrieved 10 August 2019.
External links
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