SAC Capital raises $2.5B for new fund
Hedge funds are still hot with investors. That's the message from the news that SAC Capital, run by Steven Cohen, has so far proved a big hit with institutions. It has raised about $2.5 billion from about 50 investors; it is expected to rake in about $3 billion when all is done, despite an annual management fee of 3 percent and a performance fee of 35 percent of the gains. Not to mention a three-year lock up period.
> Here's a MarketWatch article.
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