Steve Cohen, a billionaire hedge fund founder, has hung up his spurs as a trader after four decades.

Cohen, 68, will still remain its co-chief investment officer at Point 72 Asset Management with Harry Schwefel, but he has backed away from investing clients’ capital to focus on firm growth, mentoring and talent development, Bloomberg reported.

Cohen founded Stamford, Connecticut-based Point72 in 2014 after his prior company, S.A.C. Capital Advisors, pled guilty to insider trading.

"There's huge value in having Steve as an impactful mentor for our investment professionals," Point72 spokesperson Tiffany Galvin-Cohen said in an emailed statement. "He's been doing this for 40 years, and he's seen a lot. That's what gives him the most satisfaction these days — helping people succeed and seeing it make a difference — and where he feels he can add the most value."

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His firm has raised almost $12.8 billion since 2020 and managed a record $35.2 billion as of July 1. Point72 gained about 10% this year through August and is considering returning profits to clients in 2025.

S.A.C. Capital Advisors paid a record $1.8 billion fine to settle a seven-year federal insider-trading probe after pleading guilty in 2013 to making hundreds of millions of dollars in illegal profits and allowing insider trading.

After the firm's guilty plea, Cohen changed its name to Point72, returned client capital and traded using his own fortune. By early 2018, he was back to managing money for outside investors.

Cohen, who also owns the New York Mets, has a net worth of $14.7 billion, putting him among the 100 richest people in the world, according to the Bloomberg Billionaires Index.

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Photo: Point72