Launches & Closures Hedge Funds

SAC, Greenlight seek to raise cash


The volatile hedge fund market has created an opportunity for investors, who are seeing funds that have been closed to new investors for years opening to new money. Some investors are taking the opportunity to shift cash into marquee names.

According to investors, funds now willing to take new money include Steven Cohen’s SAC Capital Advisors, David Einhorn’s Greenlight Capital and Paul Singer’s Elliott Associates.

“I don’t think we have seen this sort of opportunity since the turn of the last decade,” said James Walsh, chief investment officer of the $6-billion Cornell University endowment. “Managers that we have