Lyxor Pulls
Following the news last month, Citigroup Inc.’s private bank is advising clients not to add money to SAC, two people with knowledge of the matter said yesterday. Societe Generale SA’s Lyxor Asset Management unit has asked to withdraw its clients’ funds from SAC, a person with knowledge of the situation said this week. Lyxor’s investments in the hedge fund are very limited, the person said.
Blackstone Group LP is monitoring how the government proceeds with respect to SAC and will make a decision accordingly, J. Tomilson Hill, who oversees the New York-based firm’s $46.2 billion hedge fund investments, told Bloomberg Television yesterday.
Level Global, founded by former SAC employees David Ganek and Anthony Chiasson in New York, shuttered in February last year. Chiasson is on trial with Newman. Barai Capital Management LP, which was run by Samir Barai in New York, also closed last year, while Loch Capital Management LLC told clients at the end of 2010 that it was liquidating.