SAC Capital Advisors LP’s clients are pulling $1.68 billion from the hedge fund, more than estimated, as Steven A. Cohen’s firm is being investigated for alleged insider trading, according to a person familiar with the matter.
About $660 million will leave the $15 billion fund at the end of March and the remainder in the following three quarters, said the person, asking not to be named because the information is private. SAC told some employees and advisers last month it expected client redemptions of at least $1 billion.
