|More than six years into an insider trading investigation, Steven A. Cohen, founder of SAC Capital Advisors, is feeling the pressure of fleeing outside investors who are becoming apprehensive over the firm’s future. According to Reuters, the $15 billion hedge fund firm is bracing for a massive redemption by outside investors that could approach $6 billion. |
There is much speculation among hedge fund industry insiders as to how this will affect SAC Capital Advisors operations with most expecting the 21-year old firm to cut back on staff and close down offices. SAC Capital Advisors is one of the largest hedge fund employers with more than 900 employees including 115 portfolio managers.
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