Reuters reports that two small investment firms that manage
money for SAC Capital Advisors have a lot at stake, as billionaire investor
Steven A. Cohen moves to return about $4 billion to his outside investors.
The firms, Adams Hill Capital and Scopus Asset Management,
are listed on regulatory filings as other advisers to an SAC Capital portfolio,
meaning each manages a dedicated pool of money for Cohen's hedge fund. Hedge fund industry experts said as SAC
Capital returns money to investors over the course of the year, it could force
Cohen to cut the amount of money each firm is given to manage….
The redemptions mean that SAC Capital, which will return the
money year's end, will shrink in size by about 45 percent, leaving the firm
managing mainly $8 billion of Cohen's personal fortune and $530 million
invested with SAC Re, a reinsurance firm the hedge funds established last year.
It is not known how much of SAC Capital's money is managed
by Scopus and Adams Hill….
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