SAC Readies Quant Fund; Firm's First New Offering In Six Years

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.


In Depth

Q&A: Rotation Capital's Rothfleisch On SPAC 2.0

Aug 11 2017 | 7:43pm ET

Corporate actions have long been a staple of event-driven investors, but activity...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Star Mountain: Private Lending in the Lower Middle-Market

Aug 14 2017 | 4:45pm ET

Private credit has become one of the most popular alternative asset classes in recent...

 

From the current issue of