SAC to Close Chicago Office With Four Investment Teams

SAC Capital Advisors LP, Steven A. Cohen’s $14 billion hedge fund, is closing its Chicago office that housed four investment teams.

“We regularly review our operations, and given the limited opportunity in the region we didn’t believe it made sense to have a separate office,” Jonathan Gasthalter, a spokesman for the Stamford, Connecticut-based hedge fund, said in an e-mail.

The office closing was reported earlier today by Dow Jones.

To contact the reporter on this story: Saijel Kishan in New York at skishan@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net