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SAC Capital To Close Chicago Office

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Break out the bubble wrap.

SAC Capital will be closing its Chicago office at the end of the year. The news isn't much of a big deal, as the Illinois outpost only has about 10 employees working there, some of whom will be redistributed at other SAC locations. The hedge fund set up the Chicago presence just over two years ago, but apparently it didn't quite take, with staff often traveling to the Stamford headquarters and things "never really taking off" out there.