SAC Capital Advisors, a hedge fund behemoth with roughly $4.5 billion in assets, is planning a push into fixed income. The firm has traditionally been more focused on equities but has started to diversify over the past few years and is now seeking to hire a head of fixed income, according to Alternative Investment News, a BW sister publication. The role is a new one.
Currently SAC, which was founded by Steve A. Cohen, dedicates a small effort to fixed-income trading but no partner focuses exclusively on the asset class. The fixed-income chief will look to hire a team that will most likely focus on interest-rate and currency plays. The strategy follows a similar move SAC made last year when it created a quantitative group and hired Neil Chriss, formerly a portfolio manager at Goldman Sachs Asset Management, to lead that effort.
SAC is one of the 40 largest hedge funds in the world, according to Alpha magazine's Hedge Fund 100. Julie Horn, a spokeswoman for SAC, was unable to comment.
