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The infusion is expected to help stabilize the hedge fund, which has been hard hit by a series of short bets this year, the Wall Street Journal reported earlier in the day, citing people familiar with the firm. https://on.wsj.com/2Yb7rJe
The investment includes $2 billion from Citadel and its partners and $750 million from Point72, with both taking a non-controlling revenue share in Melvin, it said. https://refini.tv/3a4SCO0
Melvin Capital was founded in 2014 by Gabriel Plotkin, the firm’s chief investment officer.
