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

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