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SAC Investors to Redeem Nearly $3 Billion More
by Howard Haykin ]
SAC Capital received redemption requests approaching $3 billion last week from hedge fund investors, according to people familiar with the matter. The figure was in line with expectations, given the roughly $4 billion in outside assets that remained in the fund as of the 6/3 redemption deadline. As of 5/31, the fund company had overall about $14.5 billion in assets under management - including some $9 billion belonging to Steven A. Cohen and other insiders.
Earlier in the year - during the 1st quarter - outside investors redeemed $1.7bn. Those funds, along with the latest redemption requetss will be returned incrementally over the course of 2013.
For further details, go to: [ CNBC, 6/10/13 ].
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