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Organization

Melvin Capital

Hedge fund founded by Gabe Plotkin in December 2014.

5 links, 4 backed by primary records

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Also known as
Melvin Capital Management, Melvin Capital Management LP

Connections 5

founded by

investors

  • Citadel 25 Jan 2021 $2B Primary record 23

    With Point72's $750 million, the total was $2.75 billion, for a non-controlling revenue share in Melvin. Citadel, the investment manager, is a separate firm from Citadel Securities, the market maker.

  • Point72 25 Jan 2021 $750M Scholarship & press 2

    Part of a $2.75 billion investment with Citadel, for a non-controlling revenue share in Melvin.

involved in

  • GameStop short squeeze held a short position in GameStop Primary record 1

    Plotkin testified that Melvin closed out all of its GameStop positions days before trading platforms limited trading in the stock.

harmed by

Timeline 3 dates
  1. Dec 2014 Gabe Plotkin founded Melvin Capital
  2. 25 Jan 2021 Citadel invested in Melvin Capital
  3. 25 Jan 2021 Point72 invested in Melvin Capital
Proof 3 sources
  1. Testimony of Gabriel Plotkin, Founder and Chief Investment Officer, Melvin Capital Management, U.S. House Committee on Financial Services, 18 Feb 2021. Primary record
    I am the founder and Chief Investment Officer of Melvin Capital.
    In fact, we had been short GameStop since Melvin’s inception six years earlier
    When this frenzy began, Melvin started closing out its position in GameStop at a loss, not because our investment thesis had changed but because something unprecedented was happening.
  2. Citadel, Point72 Back Melvin With $2.75 Billion After Losses, Bloomberg News, 25 Jan 2021. Scholarship & press
    This year’s stumble is rare for Plotkin. His firm has returned an average 30% a year since it was started in December 2014 after nearly a decade working for Cohen.
    Citadel funds and firm partners will invest $2 billion, while Point72 Asset Management’s investment will be $750 million, the firms said Monday.
  3. Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide (House hearing of 18 February 2021, Serial No. 117-3), U.S. Government Publishing Office, 2022. Primary record
    We first invested in Melvin Capital on Monday of the week in question. I want to say that it was the 24th of January. And prior to that, we had had no investment with Melvin Capital.
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