bashful hedge funds

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]