SAC Capital Advisors is is one of the largest and most successful hedge funds in the U.S. Founded by Stephen Cohen in 1992, SAC is a multistrategy hedge-fund manager with offices in Stamford, Conn., New York, San Francisco, Boston, London and Hong Kong.
Cohen is reportedly worth $8 billion, putting him among the richest Americans, according to Forbes magazine. Cohen has also popped up on Art News magazine's Top 10 list of big-spending art collectors. Work he has bought can be found at the Stephen Cohen Gallery in Los Angeles. While SAC remains on lists of top hedge funds -- most importantly, those maintained by major Wall Street brokerages that determine the service level that the brokerages give to the funds.
SAC has become one of the best-known hedge funds in the U.S. SAC was recently in the spotlight when Cohen's ex-wife sued him and accused him of insider trading in the 1980s as part of a long-running racketeering scheme and hiding assets during their divorce. The firm also made the headlines when it was linked to an expanding insider-trading case against New York hedge fund Galleon Group.