SAC Will Not Become A Family Office, President Says

Jun 6 2013 | 10:19am ET

SAC Capital Advisors is reassuring its employees that it will not return all outside capital in the wake of what are thought to be billions in redemption requests.

The $15 billion hedge fund's president, Tom Conheeney, told employees it would remain a hedge fund and not become a family office. He also said that it would not publicly release the total redemptions, which are thought to have all-but-wiped out SAC's remaining outside capital.


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