Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

SAC Expects Withdrawals of at Least $1 Billion, WSJ Reports

SAC Capital Advisors LP has told employees and business partners that it expects investors to withdraw at least $1 billion from the firm amid the U.S. government’s insider-trading investigation, the Wall Street Journal reported, citing people briefed on the communications.

Outside clients make up about $6 billion of Stamford, Connecticut-based SAC’s $14 billion of assets under management, the newspaper reported. SAC, the hedge fund founded by Steven A. Cohen, has been telling senior employees of the expected redemptions and asking clients whether they plan to pull money, the Wall Street Journal said.

A spokesman for SAC said it is premature to speculate about redemptions, the Wall Street Journal reported. SAC spokesman Jonathan Gasthalter declined to comment when contacted by Bloomberg.

The U.S. Securities and Exchange Commission told SAC last year that it is considering pursuing civil fraud claims related to alleged insider trading in two drugmakers by a former portfolio manager at the firm. Prosecutors say Cohen, 56, discussed the stocks with the manager, the first time government officials have linked him to a transaction at the center of an insider-trading case.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.