Dec 21 Titan Advisors LLC has decided to
withdraw all of its money from the hedge fund firm SAC Capital
Advisors LP, the Wall Street Journal reported on Friday, as SAC
faces scrutiny because of several employees linked to
It's unclear how much money Titan, an asset-management firm
based in New York, had invested with SAC for its clients,
although it has $3 billion invested in hedge funds overall,
according to a March securities filing.
In its article, the Journal cited clients who said they were
told that Titan would withdraw investments in SAC. The
withdrawal is notable because Titan Advisors founder George Fox
was one of the early investors in SAC Capital, the Journal said.
Fox did not respond to a voicemail message. A spokesman for
SAC Capital said the firm did not have a comment.
SAC is run by billionaire Steven A. Cohen, and came to
prominence in the late 1990s for its outsized returns. The firm
has posted returns of roughly 30 percent a year since its
But more recently, SAC Capital has garnered attention for
employees' run-ins with regulators and criminal authorities
investigating insider-trading on Wall Street.
On Friday, ex-SAC fund manager Mathew Martoma was indicted
by a grand jury in New York, becoming the seventh former SAC
employee to be charged or implicated in insider-trading schemes.