Steve Cohen’s fund leads $80 million bet on Hertz robotaxi unit Oro Mobility

Hertz just found outside money for its bet on cars that drive themselves. A consortium led by Cohen Private Ventures, the investment vehicle tied to Steve Cohen, is putting $80 million into Oro Mobility, the Hertz subsidiary built to manage rideshare and robotaxi fleets. What the money buys Hertz Global Holdings announced the transaction on October 20, 2026. The $80 million arrives as a strategic equity investment. Cohen Private Ventures is joined by affiliates of Certares Opportunities LLC and Knighthead Capital Management. Together, the group received Class A Common Units in Oro. The terms are lopsided in an interesting way. The investors get 50% of the voting rights but only approximately 15.86% of the economic rights. Governance mirrors that voting split. Oro will have a six-member board, with three designees from Hertz and three from the investor consortium. Gil West, the chief executive of Hertz, serves as Executive Chairman of Oro. Where the cash is headed Oro plans to use the capital to expand its fleet, infrastructure, technology and partnerships. The target markets fall into three buckets. The first is rideshare rentals, where drivers rent vehicles to work on ride-hailing...