Pointstate Capital

Zachary Schreiber is the Chairman and Chief Investment Officer, with authority over all portfolio decisions. He founded the firm in 2010 after serving as a portfolio manager at Duquesne Capital, where he managed energy and macro allocations for Stanley Druckenmiller. President Sean Cullinan oversees operations and execution but the investment process ultimately runs through Schreiber.

No. In February 2020, Pointstate returned all external investor capital and converted into a single-family office, managing only Zachary Schreiber's personal assets and those of select principals. The firm no longer operates as a registered investment adviser or hedge fund manager.

Energy has always been the dominant allocation, spanning public equities, private credit, and physical assets. The firm also invests in real estate, with known holdings in Miami and New York commercial properties. Prior to the family office conversion, Pointstate maintained three dedicated investment pods covering long/short equity, private investments, and a long-only energy strategy.

Zachary Schreiber was a senior portfolio manager at Druckenmiller's Duquesne Capital for 15 years before launching Pointstate. Druckenmiller and a group of his associated investors provided the seed capital for the firm in 2010. There is no formal partnership between Pointstate and Duquesne Family Office, but the ideological and professional lineage is direct.

Schreiber cited declining opportunity in liquid public markets and the strategic advantage of permanent, unfettered capital as the primary reasons. The conversion, announced in early 2020, allowed him to exit the quarterly redemption cycle and make longer-duration private investments without managing external LP expectations or regulatory filing requirements.

The firm operates across the full capital structure. Public equity positions range from large-cap energy majors to mid-cap developers, while the private book extends into direct project credit, distressed energy debt, and opportunistic real estate acquisitions. There is no pure venture-capital arm, though select minority positions in early-stage energy technology companies have appeared in past filings.

Pointstate has no disclosed investment exclusions, but the portfolio has historically avoided consumer-facing technology, biotech, and financial services — sectors that sit outside Schreiber's demonstrated expertise in energy, commodities, and physical assets. No public record shows any allocation to cryptocurrency or digital assets.