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Ex-SAC Executive Kumin’s Hedge-Fund Firm Gets Leucadia Investment

WSJ – Former SAC Capital Advisors LP executive Solomon Kumin has secured a $400 million investment from Leucadia National Corp. for his startup hedge-fund firm, according to people familiar with the recent developments.

An agreement signed late last week finalized plans to make Leucadia the biggest fund investor and near-50% owner of Mr. Kumin’s firm, the people familiar with the developments said. Precise terms, such as the potential ownership breakdown and revenue-sharing details, couldn’t be learned.

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