Hedge Funds

SAC's Intrinsic group hires top analyst


SAC Capital's latest new division has hired an analyst from George Weiss Associates.

Jason Karp - a former partner at George Weiss - has joined CR Intrinsic Investors, reporting to Intrinsic chief Matt Grossman.

SAC founder Steve Cohen set up Intrinsic in January, putting Grossman - the firm's former research chief - in charge. The new business aims to focus on longer-term investment ideas than SAC has become known for. See the April edition of Absolute Return for the full story.