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Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Nine SAC Employees Join Moore Capital

Feb 02, 2014
Jing Chen

A nine-member team at the now-defunct London office of SAC Capital Advisors has joined hedge fund giant Moore Capital Management.

The Wall Street Journal reported that the team, which includes seven portfolio managers and two analysts, is the largest group of managers to move together from SAC following the office’s closure toward the end of 2013.

Louis Bacon's Moore Capital, which has offices in London and New York, has hired portfolio managers Israa Al Bayaa, Nicholas Aldridge, Arjun Menon, Alexi Papaconstantinou, Bramen Singanayagam, Martin Stapleton and Louis Villa. They are joined by analysts Atallah Estephan and Rahil Kuchiera.

A slew of SAC’s London-based employees have joined rival firms since the hedge fund announced the location’s closure 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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