Traders from Steven A. Cohen's beleaguered SAC Capital Advisors continue to leave for rival shops.
Moore Capital Management, Louis Bacon's $12.1 billion hedge fund firm with offices in London and New York, expects to hire several London-based SAC employees early next year, according to a person familiar with the situation.
Moore met with members of SAC's investment management teams in London over recent weeks and extended offers, the person said. The names of the employees were not disclosed, but they are confirmed to be members of SAC's long/short equity and so-called macro units.
"Macro" is a term for investors who trade all types of securities based on broad political and economic trends globally. Macro is Moore's main strategy, while SAC is primarily known for stock trading based on analysis of companies and the market. The firm does run a dedicated macro strategy—the SAC Global Macro Fund—and has dedicated macro analysts and traders.
Matt Burns, a spokesman for Moore, and Jonathan Gasthalter, a spokesman for SAC, declined to comment.