Citi To Redeem $187 Million From SAC

Jan 24 2013 | 12:28pm ET

Citigroup is dropping SAC Capital Advisors from its hedge fund platform, a move that will cost the embattled hedge fund $187 million.

The word from Citi Private Bank comes as SAC braces for more than $1 billion in expected redemptions next month. The firm is facing legal and regulatory scrutiny for alleged insider-trading.


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