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

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...