SAC Said to Allow Clients to Withdraw Money From Fund Quarterly

SAC Capital Advisors LLC, the $14 billion hedge-fund firm run by Steven Cohen, will allow investors to take their money out of its flagship fund every quarter, according to a person familiar with the matter.

Clients previously had their money tied up in the SAC Capital International Ltd. fund for three years, said the person, who asked not to be identified because the information is private. The change will take place June 1, the person said.