Hedge Funds

SAC's Walter resurfaces in Bay area


Former SAC Capital Advisors short-term trading star Rich Walter is preparing to launch a San Francisco-based global long/short equity fund.

Walter's venture will be called Bellman Walter, as Jeff Bellman, a former SAC energy trader, has joined Walter in setting up the new firm. The pair is expected to bring on a number of sector specialists.

Rich Walter

Walter had run SAC's European affiliate before leaving in 2000 to launch his own firm, Walter Capital Management. But even then he was running a significant investment from his former boss, Steve Cohen. In 2004, SAC bought