Hedge Funds

SAC healthcare chiefs sever ties

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SAC Capital Advisors' top healthcare lieutenants have severed ties with SAC founder Steven Cohen. Arthur Cohen and Joseph Healey abruptly departed the firm after five years of managing the firm's HealthCo hedge fund in order to begin their own healthcare-focused fund.

Cohen and Healey have been quietly setting up their new hedge fund shop, called HealthCor, for the past month. They've even hired former senior analysts who worked with them at HealthCo, who are believed to have recently departed from SAC for a variety of reasons and have now been reunited under the pair's new entity. The pair