Reuters/ Michelle McLoughlin
According to DealBook's Ben Protess and Alexandra Stevenson report, the hedge fund is finalizing plans to change its name and corporate structure by mid-march.
Cohen will remain the CEO of the fund.
Following an insider trading scandal, SAC Capital will operate as a family office and it will no longer accept outside capital. The fund will have about $9 billion AUM.
In November, SAC pleaded guilty to criminal insider trading charges. The fund also agreed to pay a $1.8 billion fine.
Feel free to sound off in the comments section with ideas for a new name for SAC Capital. We also suggest using the Hedge Fund Name Generator if you need any help thinking of names.