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REFUND SAC Capital Faces Redemptions Mike Segar/Reuters/Landov

SAC Capital May Lose Billions

Nobody ever accused investors of loyalty. SAC Capital Advisors, the hedge fund headed by billionaire Steven A. Cohen and the center of federal probes of insider trading, is now facing a deadline on Monday for investors to submit second-quarter redemption notices. That means that those investors will potentially pull out billions of dollars. Roughly $6.75 billion of the firm's $15 billion is from outside investors, and estimates of $3.5 billion in redemptions would halve the amount of money outsiders have in the fund. It's not looking good.

June 3, 2013 8:29 AM