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Former SAC Capital Employees Join London Firm

Jan 08, 2014
Jing Chen

European asset management firm Carmignac Gestion Group has hired a pair of former employees at SAC Capital Advisors.

London-based Carmignac Gestion announced Wednesday that two out of the four-member European equities team previously worked out of SAC’s London office. The team will be responsible for managing three European funds for Carmignac totaling about $2.2 billion in assets.

Headed by Muhammed Yesilhark, who helped build York Capital hedge fund business before joining SAC in 2009, the team includes former SAC associate Saiyid Hamid, ex-Morgan Stanley investment banker Malte Heininger and former Goldman Sachs employee Huseyin Yasar.

A slew of SAC’s London-based employees have joined rival firms as the hedge fund closed its London office last year following its guilty plea to insider trading. A grand jury charged SAC in July with wire fraud and four counts of securities fraud for allegedly allowing insider trading to go unchecked from 1999 through at least 2010. The SEC also charged SAC founder Steve Cohen in a civil lawsuit for failing to prevent insider trading at his firm.

SAC had about $14 billion in total assets under management as of July 1, however the firm is currently in the process of transitioning into a family office.



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