Hedge-fund mogul Steven Cohen announced plans Wednesday to establish a national network of mental-health centers for former service members and their families, Bloomberg reports. Speaking at a fundraiser for the Marine Corps-Law Enforcement Foundation, the billionaire investor committed $275 million to create the Cohen Veterans Network, which aims to open 25 free clinics by 2020.
Mr. Cohen is the head of Connecticut-based Point72 Asset Management and the father of a Marine who served in Afghanistan. He got involved in veterans' mental health while serving on the board of the Robin Hood Foundation, with which he helped open a clinic at NYU Langone Medical Center in New York that will serve as a model for the new network. Additional facilities are slated to open in the coming months in San Antonio, Dallas, Los Angeles, and Philadelphia.