SAC Snags FrontPoint Consumer, Industrials Chief

May 25 2011 | 1:59am ET

Facing an insider-trading investigation of its own, SAC Capital Advisors has moved to profit from another firm's insider-trading woes.

The Stamford, Conn.-based hedge fund giant has hired Christopher Susanin from FrontPoint Partners, Reuters reports. At FrontPoint, which is liquidating most of its hedge funds, Susanin managed consumer and industrial stocks.

Susanin joined FrontPoint in 2006 to launch its consumer and industrials long/short equity team. He was formerly portfolio manager at John Levin & Co., covering the same sectors.

FrontPoint last week announced that it would liquidate most of its hedge funds, including its flagship Multi-Strategy Fund, amidst massive redemption requests. Clients headed for the door in the wake of an insider-trading scandal involving FrontPoint's former top healthcare fund manager, Joseph Skowron, a SAC alumnus.

SAC itself is currently in the crosshairs of an insider-trading probe led by Sen. Charles Grassley (R-Iowa).


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Artivest Announces Funding Round Led by KKR & Co.

May 4 2015 | 9:56am ET

Artivest, a startup that provides individual investors with access to private equity...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note