SAC, KLS Turn To Morgan Stanley For Fundraising

Feb 15 2012 | 1:56pm ET

Even the biggest names in the hedge fund industry occasionally need help raising money.

SAC Capital Advisors and KLS Diversified Asset Management have turned to Morgan Stanley's capital introduction team as each seeks $500 million in fresh cash. SAC, which has also engaged Barclays for the effort, wants the money for its new reinsurance business, while KLS hopes to add half-a-billion to its multi-strategy fixed-income fund.

According to HFMWeek, both fundraisings are in process and will likely take several months to finish.


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