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.
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.
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.
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.
NEW YORK (Reuters) - One of hedge fund billionaire Steven A. Cohen's largest outside investors, private equity firm Blackstone Group LP, appears inclined to keep its money with his SAC Capital Advisors, even as the U.S.