Sat, Dec 10, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Blackstone sent redemption request to SAC Capital

Monday, May 27, 2013

From Precy Dumlao, Opalesque Asia – Blackstone Group, the largest outside investor in SAC Capital Advisors, is to pull out its money from the firm, Reuters reported.

Reuters, citing a May 21 letter from pension consultant Russell Investments to clients, said that Blackstone had informed SAC Capital of its intent to "fully redeem" an important part of the estimated $550m it has invested with the $15bn hedge fund firm.

Blackstone reportedly sent the notice to SAC Capital sometime before May 15 as it was concerned over the ongoing insider trading probe against SAC Capital and its executives that might even involve Cohen himself. The redemption affects only client money invested in SAC’s fund of hedge funds, the letter notes.

Blackstone was said to be confident to receive 100% of its money from SAC Capital before the year ends. It was not clear however if Blackstone had advised its other clients which have investments in separately managed accounts at SAC Capital, to withdraw their money from the hedge fund firm or not.

In December’12, three sources told CNBC Blackstone was then in no rush to redeem money from the Stamford, Connecticut-based hedge fund. Blackstone has had at least three discussions with SAC's executives about the......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg

  2. Opalesque Roundtable: Australian family offices search for good risk adjusted returns, happy to pay for skill[more]

    Komfie Manalo, Opalesque Asia: Australian family offices want foremost good risk adjusted returns, and they are happy to pay for the skill, and in some cases, the limited capacity of an active manager. Jonas Daly, Head of Distribution at B

  3. StepStone announces close of Swiss Capital acquisition[more]

    StepStone Group LP announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG, one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory

  4. Investing - Stephen Cohen investing $275m in free clinics treating veterans' mental health issues, California Resources loses favor with hedge funds[more]

    Stephen Cohen investing $275m in free clinics treating veterans' mental health issues From Healthcarefinancenews.com: …Now, a new chain of free mental health clinics for vets has opened in five cities across the United States to fill the gap. The much-needed new treatment is underwritten

  5. Hedge funds flat in last week of November 'in sympathy with markets’[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were close to flat in the last week of November in sympathy with markets, which took a pause ahead of the OPEC meeting and Italian referendum. The Lyxor Hedge Fund Index was -0.1% as of end November 29 (-1.7% YTD), according to the latest