Moore Capital Said to Offer Roles to SAC Capital Money Managers

Dec 24, 2013 12:11 pm ET

Dec. 24 (Bloomberg) -- Billionaire Louis Moore Bacon offered positions at his hedge-fund firm, Moore Capital Management LP, to money managers at SAC Capital Advisors LP, according to a person with knowledge of the matter.

Moore, which oversees about $12.1 billion out of New York, expects some of the London-based managers to join early next year after it extended offers to them, said the person, who asked not to be identified because the discussions are private. The money managers, who Moore had met in recent weeks, focus on equities and macroeconomic trading, the person said.

SAC said in October that it plans to shut its London office after it agreed to pay $1.8 billion to settle insider-trading charges. The U.S. government accused the Stamford, Connecticut- based firm, run by billionaire Steven A. Cohen, of engaging in an unprecedented scheme lasting more than a decade.

CNBC reported the talks earlier today. Kenny Juarez, a spokesman for Moore Capital at Burson-Marsteller Inc., declined to comment, as did Jonathan Gasthalter, a spokesman for SAC at Sard Verbinnen & Co.

--Editors: Sree Vidya Bhaktavatsalam, Christine Maurus