Reuters/ Steve MarcusBloomberg News reports that billionaire hedge fund manager Steve Cohen is said to be considering a deal that would shut his Stamford, Connecticut based SAC Capital to outside investors.
He’s also considering returning outside investor money and turning SAC into a family office, Bloomberg reports citing an unnamed source familiar with his thinking.
The firm has about $15 billion in AUM. About $9 billion of that belongs to Cohen and SAC Capital employees. The rest is outside investor capital.
We’ll have more in a moment.
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