 | |
| Company type | L.P., Private |
|---|---|
| Industry | Hedge funds |
| Founded | 1992 |
| Founder | Steven A. Cohen |
| Defunct | 2016 (converted into Point72 Asset Management in 2014) |
| Headquarters | Stamford, Connecticut United States |
| AUM | $16 billion (2008) |
| Owner | Steven A. Cohen |
Number of employees | 800 (2010) |
SAC Capital Advisors was a group of hedge funds founded by Steven A. Cohen in 1992. The firm employed approximately 800 people[1] in 2010 across its offices located in Stamford, Connecticut and New York City, and various offices.[2] It reportedly lost many of its traders in the wake of various investigations by the Securities and Exchange Commission (SEC).[3] In 2010, the SEC opened an insider trading investigation of SAC[4] and in 2013 several former employees were indicted by the U.S. Department of Justice.[5] In November 2013, the firm itself pleaded guilty to insider trading charges and paid $1.2 billion in penalties (in addition to $616 million already paid to the SEC).[6] The firm shrank after returning the vast majority of its outside investor capital (i.e., not controlled by Steven Cohen personally). Point72 Asset Management was established as a separate family office in 2014. SAC ceased to exist as a separate entity in 2016.[7] Point 72, essentially the continuation of SAC, manages 30 Billion as of 2023. [8]
- ^ Steve Cohen's Trade Secrets Bloomberg.com, February 26, 2010
- ^ Vickers, Marcia (21 July 2003). "The Most Powerful Trader on Wall Street You've Never Heard Of". Bloomberg Businessweek. United States. Bloomberg L.P. Retrieved 25 July 2006.
- ^ Copeland, Rob (December 31, 2013). "SAC Capital Outperforms Peers in 2013". The Wall Street Journal.
- ^ Barr, Alistair (23 November 2010). "SAC Tells Investors It Got Government Subpoena". MarketWatch. San Francisco, United States. Dow Jones & Company Inc. Retrieved 15 October 2013.
- ^ Flitter, Emily (July 25, 2013). "U.S. charges SAC Capital with insider trading crimes". Reuters. Retrieved July 31, 2013.
- ^ Protess, Ben; Lattman, Peter (4 November 2013). "After a Decade, SAC Capital Blinks". New York Times. No. DealBook. New York, N.Y., United States. The New York Times Company. p. B1. Retrieved 6 November 2013.
- ^ SEC Investment Adviser Public Disclosure (IAPD)
- ^ "What we do".