SAC To Reopen Multi-Strat Fund

Aug 17 2007 | 1:03pm ET

SAC Capital Management is reportedly planning to reopen its multi-strategy hedge fund to new investors in October.

The SAC Multi-Strategy Fund launched in 2005, according to Alternative Investment News, and returned 30% last year. It charges above-industry-standard fees of 3% for management and 33% for performance,  with a three-year lockup.

The firm declinded to comment.

Greenwich, Conn.-based SAC manages $14 billion.

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