Michael steinberg sac capital bio

Group of hedge funds

SAC Capital Advisors was a group of hedge funds founded by Steven A. Cohen in 1992. The firm employed approximately 800 people^[1] in 2010 across its offices located in Stamford, Connecticut and New York City, and various offices.^[2] It reportedly lost many of its traders in the wake of various investigations by the Securities and Exchange Commission (SEC).^[3] In 2010, the SEC opened an insider trading investigation of SAC^[4] and in 2013 several former employees were indicted by the U.S.

Department of Justice.^[5] In November 2013, the firm itself pleaded guilty to insider trading charges and paid $1.2 billion in penalties (in addition to $616 million already paid to the SEC).^[6] The firm shrank after returning the vast majority of its outside investor capital (i.e., not controlled by Steven Cohen personally).

Point72 Asset Management was established as a separate family offi