Hedge Funds

SAC Capital Drafts Richter


Steve Cohen's SAC Capital Management recently recruited tech guru Karl Richter, a specialist in semiconductors and formerly an analyst with Susquehanna. Richter's arrival follows the departure earlier this year of semi-conductor star Richard "Richie" Grodin. At Susquehanna, an institutional brokerage firm, Richter also focused on exchange traded funds, ADRs and listed options, which may also suggest the type of coverage he will be doing for Cohen's shop, known for its high-velocity trading. Although the name may raise some eyebrows, the recently arrived Richter is not related to SAC Capital co-founder William Richter.