Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

To submit industry-related press releases or request feature ideas please contact

News Archive

Read More Industry News >

SAC Portfolio Manager Joins Millennium

Oct 17, 2013
Jing Chen

Johan Levavasseur is the latest SAC Capital Advisors portfolio manager to join Israel Englander’s Millennium Management.

Bloomberg reported that Levavasseur, who is one of at least four SAC portfolio managers to leave the firm’s London unit this year, will be working out of New York-based Millennium’s London office. The article said that his registration with the U.K.’s Financial Conduct Authority as a SAC employee ended on October 15.

Andres Anker, Alexey Chentsov and Santiago Falconi are among the slew of SAC traders who have recently left the Connecticut-based firm to join Millennium, which like SAC, employs dozens of smaller portfolio teams to buy and sell thousands of securities quickly.

According to an earlier eVestment article, SAC announced to its staff for the second time since its insider trading probe that it is giving portfolio managers retention bonuses in an effort to keep the number of employees at bay.

SAC was charged with fraud on July for allegedly allowing insider trading to go unchecked from 1999 through at least 2010. The Securities and Exchange Commission also charged Cohen for failing to prevent insider trading at the firm.

SAC had about $14 billion in total assets under management as of July 1. Millennium manages approximately $18.5 billion in assets.

Read More Industry News >

eVestment’s 2016 Hedge Fund Industry Outlook

Request Your Copy