SAC Cap to Stem Withdrawal Requests

 According to Dealbook: About $9 billion of the $15 billion invested at SAC Capital belongs to Steven A. Cohen, who could wind down SAC and manage his fortune separately.The embattled hedge fund SAC Capital Advisors is bracing itself for another round of withdrawal requests from investors after disclosing that it would no longer fully cooperate with the government’s scrutiny of its trading practices.

SAC’s investors have two weeks to decide whether to withdraw money from the $15 billion hedge fund, which is owned by Steven A. Cohen. Earlier this year, SAC investors asked to redeem $1.7 billion, and the firm is scrambling to stanch the outflow of more funds as fears rise that the insider trading investigations could further damage Mr. Cohen and his firm.

In the latest blow, SAC’s largest outside investor, the Blackstone Group, is preparing a request to withdraw a portion of its money before the June 3 deadline, according to people briefed on the matter. Blackstone could take out as much as half of its roughly $550 million investment, these people said.

Wait…wait…there’s even more good stuff at http://dealbook.nytimes.com/2013/05/20/sac-capital-aims-to-stem-investors-withdrawal-requests/?ref=business