Blackstone (BX) plans to pull a "significant portion" of the ~$550M it has invested with Steve...

|About: The Blackstone Group L.P. (BX)|By:, SA News Editor

Blackstone (BX) plans to pull a "significant portion" of the ~$550M it has invested with Steve Cohen and SAC Capital in light of the ongoing insider trading investigation, according to a letter from pension consulting firm Russell Investments reviewed by Reuters. Blackstone's redemption request came "sometime before May 15," meaning the asset management firm made the decision prior to SAC's disclosure that it would no longer cooperate unconditionally with authorities and prior to news that Cohen himself had been subpoenaed.