From Bloomberg: SAC Capital Advisors LP, the hedge fund run by Steven Cohen,
increased its stake in American International Group (AIG) as the U.S.
government sold shares of the bailed-out insurer.
SAC Capital added 4.4 million shares of New York-based AIG,
giving it 4.5 million as of March 31, according to a regulatory filing today
from the Stamford, Connecticut-based fund. D.E. Shaw & Co., the New
York-based hedge fund that uses computer models to pick trades, increased its
stake by 2.2 million shares to 5.5 million, its filing shows.
AIG’s shares increased 33 percent in the first quarter as
the insurer repaid part of its U.S. government rescue and bought back stock. The
insurer has sold assets including a stake in Hong Kong-based insurer AIA Group
Ltd. (1299) to raise funds to cut the Treasury’s stake, which stands at about
60 percent.
No comments:
Post a Comment