SAC Capital Advisors, L.P. (“SAC”) is a +$10 billion hedge fund run by Steven A. Cohen. SAC was founded in 1992 and headquartered in Stamford, CT. SAC also has a significant presence in New York City and satellite offices in San Francisco, Hong Kong, Boston, and London.
SAC’s primary focus is long/short equity but they do trade other strategies including debt securities, risk arbitrage, statistical arbitrage, global macro, commodities, and options.
SAC is comprised of the following divisions:
- S.A.C. Capital Advisors: Operating out of Stamford, CT, Boston and NYC investing in all kinds of asset classes
- Sigma Capital Management: Operating out of NYC invests in U.S. equities and debt securities
- S.A.C. Global Investors: Operating out of London investing in non-U.S. equities and debt securities
- CR Intrinsic Investors: Operating out of Stamford, CT and NYC investing using in-house primary research
Steve Cohen has made SAC famous for their “multi-manager” platform. Portfolio managers are hired on to run a certain amount of the firm’s capital, SAC provides the trading infrastructure, risk framework, and a defined exit strategy.
SAC is notorious for charging highest fees in the industry of 3% management and 50% performance, typical fees run 2% and 20% respectively.
In November 2010, former SAC spin-outs Level Global and Diamondback Capital were raised as part of an SEC investigation for insider trading.
S.A.C. Capital Advisors, LP
72 Cummings Point Road
Stamford, CT 06902