Wednesday, 25 May 2016
Last updated 18 min ago
Apr 30 2014 | 2:27pm ET
A 10-year SAC Capital Advisors veteran is set to launch a new Asian hedge fund.
Andrew Bazarian was one of the four top people at SAC’s Hong Kong office, running a pan-Asian portfolio at the firm, which became a family office called Point72 Asset Management earlier this month. He left SAC in early March, before the firm’s guilty plea to insider-trading charges was accepted by a federal judge.
Bazarian’s new fund is expected to be backed by Alibaba Group Holding's Joe Tsai, The Wall Street Journal reports. Tsai has not yet committed a specific sum, but any investment would come from his personal wealth.
Bazarian joined SAC in 2004, initially based at its Stamford, Conn., headquarters. He moved to Hong Kong in 2008, where he oversaw Asian capital markets investments in addition to his own fund. He has never been linked to any of the illicit trading at his former employer.