The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
Last updated 11 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.