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WSJ: FBI Raids Level Global And Diamondback Capital

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Greenwich-based Level Global, which manages around $4 billion, was founded in 2003 by former SAC Capital trader David Ganek. Stamford-based Diamondback, which was founded in 2005 and manages over $5 billion, is headed by SAC alum Richard Schimel and other former SAC managers).

Diamondback has not had anything to say publicly about the matter, while a Level Global spokesman issued this nonchalant statement:

"We can confirm that agents from the Federal Bureau of Investigations visited our offices this morning as part of what we believe to be a broader investigation of the financial services industry discussed in media reports over the weekend. We are cooperating fully with the authorities and, at the same time, we are fully operational and continue to work diligently for the benefit of our investors."

FBI Raids Two Hedge Funds [WSJ]