SAC Capital Advisors LP is raising bonuses for portfolio
managers by 3 percentage points to help retain employees as the U.S.
government’s insider-trading probe moves closer to Steven A. Cohen’s $14 billion
hedge fund, a person familiar with the matter told Bloomberg.
The bonus increase announced today will be paid to equity,
macro and commodity portfolio managers, said the person who asked not to be
named because the information is private. The firm’s portfolio managers are
typically paid an annual bonus of about 15 percent to 25 percent of the profits
they generate from their investments, according to another person.
“This raise should
help to allay fears of some SAC employees,” said Michael Karp, chief executive
officer of Options Group Inc., a New York-based recruiting firm. Hedge funds
typically pay bonuses of about 10 percent to 12 percent with larger funds
paying more…..
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