May 28 2013 | 3:03pm ET
SAC Capital Advisors is preparing plans to become a family office amidst word that a fifth executive at the hedge fund has been subpoenaed to appear before the grand jury considering criminal insider-trading charges against the firm.
Stamford, Conn.-based SAC is creating a plan to return outside capital. Sources tell the network that an announcement that SAC will become a family office, managing only founder Steven Cohen's fortune, will come within weeks.
Feb 3 2014 | 9:27am ET
In recognition of his extraordinary dedication to philanthropy, Marathon Asset Management’s Bruce Richards will be presented with the Award for Caring during the 16th Annual New York Open Your Heart to the Children Benefit, which takes place on Thursday, March 6. The gala, the largest gathering that Hedge Funds Care/Help For Children holds worldwide, will bring together 1,000 hedge fund executives to raise funds to help prevent and treat child abuse in New York, New Jersey and Connecticut. Read more…