Why does Point72 have so many employees?
Notice that their AUM is only $11 billion (as of 2015), yet they have 1000 employees. AQR, Two Sigma, Citadel, etc. all manage much more money with similar employee bases. Does the nature of Point72's strategies require AUM/employee to be lower?
They have been on a very aggressive hiring spree over the last 12-18 months, I always interpreted that as preparing for 2018 when they are allowed to take in external capital again - I assume they try to get the infrastructure / people in place before that to quickly ramp up once the external money flows in. I thus expect them to drastically increase their AuM during and post 2018 while maintaining a similar level of employees, bringing them more in line with the larger peers that you mentioned.
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