SAC Capital Quantitative Fund
SAC Capital to Launch Quantitative Hedge Fund This Year
SAC Capital Advisors plans to launch a new quantitative hedge fund later this year after seeing assets climb by more than $1 billion in recent quarters, Bloomberg News reported Thursday, citing two unidentified people familiar with the decision.
The hedge fund will be managed by 20 teams of so-called quant traders at SAC, Bloomberg said. These types of funds use computer models to spot trends and anomalies in securities markets.
Current SAC investors asked the firm to open the fund. It's expected to launch in the third quarter, Bloomberg added, while noting quant investing makes up about 15% of the roughly $35 billion, including leverage, that the firm manages.
SAC was subpoenaed by the government last year as part of a broad investigation into potential insider trading in the $2 trillion hedge-fund industry. Two former traders from the firm have pleaded guilty to charges stemming from the investigation. Source