Titan Advisors, a wealth management firm that’s been investing with SAC Capital is ending their relationship with the hedge fund, The Wall Street Journal reports.
Clients told the Journal that the firm, which invests $3 billion in hedge funds, was severing ties with SAC because of ongoing investigations into its activities by securities regulators.
George Fox, a Titan Advisors co-founder, started investing with SAC Capital in the mid-90s, not long hedge fund launched in 1992.
“They’ve told us they still think SAC is a good firm but Titan doesn’t need the headline risk, and we sure don’t,” said Tom Taneyhill, executive director of the Fire & Police Employees’ Retirement System of the City of Baltimore, on Friday.
Lyxor, Soc Gen’s asset management arm ($113 billion with AUM) announced that it would withdrawal from SAC Capital earlier this month.