Former SAC Healthcare PM Launching New Fund

Mar 25 2015 | 12:36pm ET

Former SAC Capital money manager Eric Evans is forming a new hedge fund named Orchard View Capital Advisors.

The new fund will be based in New York and will focus on healthcare stocks, an area in which he concentrated at SAC, according to media reports. The new fund is the latest in a string of launches by former SAC employees.

Evans managed approximately $700 million in assets while at Steve Cohen’s firm, and left in 2012 before SAC’s landmark deal with the U.S. government regarding insider trader probes. As part of the settlement, SAC rebranded into Point72 Asset Management and ceased handling outside capital in 2013. 

Evans has been joined at the new venture by former Apollo Global Management executive Patrick Levens, according to the reports.

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