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A Firm That’s Been Investing With SAC Capital Since The 90s Just Pulled Out Of The Fund
Clients told the Journal that the firm, which invests $ 3 billion in hedge funds, was severing ties with SAC because of ongoing investigations into its activities by securities regulators.
George Fox, a Titan Advisors co-founder, started investing with SAC Capital in the mid-90s, not long hedge fund launched in 1992.
“They’ve told us they still think SAC is a good firm but Titan doesn’t need the headline risk, and we sure don’t,” said Tom Taneyhill, executive director of the Fire & Police Employees’ Retirement System of the City of Baltimore, on Friday.
Lyxor, Soc Gen’s asset management arm ($ 113 billion with AUM) announced that it would withdrawal from SAC Capital earlier this month.