Hedge Fund News From HedgeCo.Net

Two SAC Capital Traders Jump to Highbridge Capital

DealBook – The hedge fund Highbridge Capital Management just lured away two portfolio managers from Steven A. Cohen’s SAC Capital Advisors to manage money for its stock trading funds.

The firm, with $29 billion in management, recently hired Wayne Chambless and Christopher Procaccini from SAC, said two people briefed on the matter. Mr. Chambless and Mr. Procaccini are leaving SAC a month before the firm officially changes its name to Point72 Asset Management and converts from a hedge fund to a family office that will manage mainly Mr. Cohen’s $9 billion.

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