A former senior executive of SAC Capital Advisors LP is planning to start a new stock-trading hedge-fund firm, potentially with a big chunk of funding from Leucadia National Corp., according to people familiar with deal discussions.
Solomon “Sol” Kumin, who was SAC’s chief operating officer, is in advanced talks over a deal with Leucadia that would make the company Mr. Kumin’s biggest investor and owner of a substantial portion of his firm, the people said.
