SAC Capital is planning a “soft reopening” that will allow for a limited number of investors to put money back into the hedge fund, according to an exclusive report from FOX Business Network (FBN) Senior Correspondent Charlie Gasparino. Gasparino says SAC Capital has not determined how much money they will accept but that it “depends on how much money comes out and that will be determined at the end of March.”
On the impending changes at Steve Cohen’s SAC Capital:
“They plan on doing a soft reopening of the major SAC fund that’s been closed since 2011, meaning some investors will be able to put money back in and add money back into the fund. Who are these investors? From what I understand it’s a limited number, they’re very high net worth people, they’re best customers, they are going to be able to put more money in. This is a step to soften the impact. How much money will they allow the people that they select to put in? From what I understand it all depends on how much money comes out and that will be determined at the end of March.”
