Steve Cohen Closing Flagship Fund To New Money From Existing Or Outside Investors

SAC Capital’s flagship fund will no longer be open to outside investors beginning August 1, and existing investors can’t put in new money either, Institutional Investor reported.

Steve Cohen’s flagship fund is up about 10% year to date.

At least one investor is thrilled about the news.

“I love it,” the investor told IIĀ  because he “prefers his funds not grow too large, especially from hot money that tends to bail out of funds in general at the first whiff of underperformance.”

Don’t miss: Pictures Of The Beautiful New Offices That SAC Capital Might Move Into Soon >

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