SAC to shut London office

SAC Capital Advisors is set to close down its office in London before the end of the year, according to a person familiar with the matter.

The group currently still has offices located on Paternoster Row, near St Paul’s Cathedral.

The hedge fund was founded by US billionaire Steven A Cohen, and is worth about $15bn (£9.25bn).

When asked whether the ongoing legal challenges in the US were related to the closure, a spokesman declined to comment.