Goldman Employees to Pull $300 Million From Omega Advisors

“Goldman Sachs Group Inc.’s retirement plan is pulling about $300 million from Leon Cooperman’s Omega Advisors Inc., marking the second time this year it’s cutting ties with a famous alum who ran afoul of U.S. authorities… Goldman Sachs employees are exiting the investments managed by Cooperman, who spent more than two decades at the bank, after the U.S. Securities and Exchange Commission accused the hedge fund manager of insider trading… Cooperman said that since Goldman Sachs invested with him in May 1993, he’s outperformed the S&P 500 Index by about 2 percentage points a year for the bank.”