SAC Capital Rival Hedge Funds to Gain From Billions In Redemptions

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. 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…