BOSTON/NEW YORK (Reuters) - As federal prosecutors circle Steven A. Cohen's $15 billion hedge fund in a long-running insider trading probe, one financial adviser in Texas is so devoted to the billionaire investor that he may give him more money.
Reuters/ Jack CusanoBOSTON (Reuters) - Billionaire hedge fund investor William Ackman, whose funds have suffered double-digit losses this year, on Tuesday told investors that 2015 could be his firm's worst ever, but said clients are generally sticking with him.
May 25 (Reuters) - Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc , the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters.
NEW YORK — A deal between SAC Capital and U.S. prosecutors to resolve a criminal insider trading case against the firm could come in a few days, a source familiar with the matter said on Thursday.
Any potential deal between Steven A. Cohen’s SAC Capital and federal authorities would likely involve some admission of liability by the firm and a payment of more than US$1 billion, the source said.
Pequot Capital Management, the once-prominent hedge fund firm run by Arthur Samberg, has been put on notice by the Securities and Exchange Commission that it intends to file insider trading charges against the firm, according to a letter sent to Pequot investors on Monday.