Monday, 27 June 2016
Last updated 2 days ago
Jan 3 2014 | 1:21pm ET
Moore Capital Management is taking advantage of SAC Capital Advisors' cutbacks as the latter transforms itself into a family office.
The New York-based hedge fund, which manages $12.1 billion, has offered jobs to several of SAC's London-based portfolio managers, CNBC reports. Moore expects some to join early this year.
Moore focused on SAC managers working on equity and macro strategies.
SAC closed its London office last year as it battled insider-trading charges. The firm later pleaded guilty to fraud and agreed to stop managing outside capital.
Moore had been in talks with about a dozen SAC employees in London, battling for their services with the likes of Balyasny Asset Management, BlueCrest Capital Management and Millennium Management.