It looks like the $3 billion that was lost by SAC Capital Advisors in redemptions is haunting the Wall Street to find a new home. Strange picture, but that is the idea you get when you read what the ex-investors of SAC Capital are doing these days.

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Katya Wachtel and Svea Herbst-Bayliss report for Reuters that trading firms with structure similar to the embattled SAC Capital stand to gain from all the money that is exiting the hedge fund. Unnamed sources have claimed that redeemers from SAC are looking to shop in Israel Englander’s Millennium Management which is supposedly a rival of SAC Capital. Englander’s $18 billion multi-strategy fund however has not shown any particular performance in this year, returns were up only 4.75 percent until May.

Among the many firms who have said goodbye to SAC since the scandal broke are Magnitude Capital, a $3.1 billion hedge fund, and The Blackstone Group L.P. (NYSE:BX), SAC’s largest outside investor—which notified SAC that it will pull a portion of its $550 million investment. Others who have redeemed their assets are SocGen’s Lyxor Asset Management, Titan Advisors, a wealth management firm, and Ironwood Capital. SAC Capital had $15 billion under management until January, out of which investors withdrew $1.7 billion in the first quarter and intimated that another $2-$3 billion would be taken away in the second quarter. The redemptions would have crumbled SAC’s assets under management to $10 billion by the time the money is distributed back.

Hutchin Hill’s Strategy Is Far More Diverse Than SAC Capital

Other hedge funds who are ready to take in what others have lost are, Neil Chriss’s Hutchin Hill Capital. Chriss has previously worked at SAC Capital. Hutchin Hill ‘s multi strategy approach has returned 10 percent through May, the fund manages $1.1 billion. However Hutchin Hill’s strategy is far more diverse than SAC Capital’s, so it is not exactly a SAC clone. A source familiar with the matter told ValueWalk that Hutchin Hill was the least likely of the funds to profit.

Visium Asset Management is another contender—the firm applies strategies like credit long/short and equity long/short. The biotech-focused equity fund, Visium Offshore Global, is up 10.4 percent for the year to May. Balyasny Asset Management is also a potential gainer that has been named by sources interviewed by Reuters. The fund manages $3.7 billion and was up on the margin in its two main funds.

SAC Capital is Going to Give Back Investor Money

These are only a few of the funds that stand a chance to gain from the capital that SAC returns, there are of course several other options. Even more importantly, SAC is going to give back investor money over a period of a year, so it is not as if investors now have cash on hand to put in new funds.