Tuesday, 13 October 2015
Last updated 4 hours ago
May 20 2011 | 1:48pm ET
SAC Capital Advisors may still close its flagship hedge fund to new money, but investors who still want a piece of the legendary firm have a new place to park their money.
The $14 billion Stamford, Conn.-based firm will launch a quantitative hedge fund in the third quarter, Bloomberg News reports. The strategy currently accounts for about 15% of SAC's assets, but is not available as a stand-alone product.
That is poised to change as SAC mulls closing its main fund to new investors. The firm has added about $1.5 billion in assets since reopening last year.
SAC currently has about 20 teams of quant. traders.
The new fund will be SAC's first in six years; the firm launched a multi-strategy fund in 2005, a fund that SAC is now winding down after it posted losses in 2008.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…