Steve Cohen’s SAC Capital to Open Tokyo Office

Steve Cohen has a lot going on. He is launching a reinsurance business and trying to manage allegations against his firm for “well-timed” trades, but the hedge fund manager has even more on his plate right now.


Steve Cohen’s SAC Capital to Open a Tokyo Office

Steve Cohen, head of SAC Capital Advisors, “plans to open an office in Tokyo in the first quarter of 2012 because he sees increased opportunities in Japan,” according to Bloomberg Thursday. “Japanese long-short equity funds, particularly those that are market neutral, have done fairly well this year,” said Pierre Merillon, a global macro fund research head for Darius Capital Partners. “So it makes sense that SAC might be interested in that market.” SAC Capital spokesman Jonathan Gasthalter “declined to comment on the hedge fund’s plans, ” according to Bloomberg.

SAC Capital’s Presence in Asia

SAC’s Tokyo office will be its latest in Asia. It already has offices in Hong Kong, Singapore and Beijing. Bloomberg reports that he “added four portfolio managers in Asia this year, bringing the total to 13.” According to APBankers, Cohen hired, Shantanu Nagpal “as a portfolio manager from Brevan Howard in early summer. He had not been in his seat long at Brevan Howard, only joining that firm in the first quarter of 2010, before moving across to SAC in Hong Kong.” Cohen also hired, Frank Ho “as a portfolio manager in June, from Highbridge Asia. That is the same fund from which Carl Huttenlocher departed earlier this year with the intention of setting up his own fund.” Cohen hired Joyce Ho as well. Ho “joined on the business development side, reporting to Angus Wai. She formerly worked at the Swiss fund of funds house Harcourt, which is owned by Vontobel.”