SAC Capital Will Manage Your Money, If You Want

Steven Cohen’s SAC Capital Management LP is opening its main hedge fund to new investments after almost two years as a deadline for clients to redeem approaches, according to a person with knowledge of the matter. The $14 billion SAC, whose clients have until Feb. 14 to ask to pull money from the fund, isn’t actively marketing it, said the person, who asked not to be named because the firm is private. The fund has been soft-closed to new investments since mid-2011, meaning it has selectively taken in money, mostly to accommodate current clients, according to the person…This week’s deadline applies to clients asking to pull money from the fund for the quarter ending March 31. SAC executives have told employees that it expects investors to request redemptions of about $1 billion. [Bloomberg]

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Comments (5)

  1. Posted by Guest | February 13, 2013 at 4:02 PM

    Sorry, Stevie, I only work with winners.

    -Herb Alife

  2. Posted by Matt's Fund Manager | February 13, 2013 at 4:32 PM

    If only György Soros was still taking outside money I'd move some to him, but looks like I'm stuck with Stevie for now.

  3. Posted by SAC=Stalin? | February 13, 2013 at 5:09 PM

    In Soviet Russia, as in SACC, money manages YOU.

  4. Posted by Guest | February 14, 2013 at 8:39 AM

    People that work at private firms are allowed to be named

  5. Posted by TraderHoe | February 14, 2013 at 11:18 AM

    If Stevie goes bust, can I get "The Impossibility of Death in the Mind of Someone Living"? Not for the shark. A tank of formaldehyde could be useful!