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Alternative Market Briefing

Cohen’s new hedge fund 'planting seed’ to run outside money in 2018

Friday, August 05, 2016

Komfie Manalo, Opalesque Asia:

Billionaire investor Steven Cohen was barred from running outside capital and ordered to convert his hedge fund into a family office after his SAC Capital Advisors pleaded guilty to securities fraud in 2013. He also agreed to pay a record $1.8bn fine in a separate settlement.

In January this year, Cohen has entered into a deal with the Securities and Exchange Commission to allow him to manage outside money as early as January 2018. Now, new information has surfaced that the controversial hedge fund manager really intends on doing that and is already planting seeds to enable him to run outside capital as early as, well, January 2018.

A report from Bloomberg has indicated that Cohen’s new hedge fund firm Stamford Harbor Capital is in discussion with a third-party marketing company that is meeting with potential investors to determine if they will be interested in investment vehicles that could be launched in 2018.

The report cited an unidentified source as saying that ShoreBridge Capital Partners, the fund-raising firm of Cohen’s long-time deputy Douglas Blagdon, has been hired earlier this year to meet with potential clients and discuss possible allocation to Stamford Harbor. Blagdon was former global head of marketing and investor relations at the defunct SAC Capital.

The rumor mill has ......................

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