An affiliated fund of Steven A. Cohen’s SAC Capital Advisors shut down last week as the $14 billion hedge fund begins to shrink in the wake of a criminal indictment filed against it in July, said two people familiar with the situation.

Parameter Capital Management traded mainly financial stocks. The team was run by portfolio managers Glenn Shapiro and Anil Stevens. Stevens plans to launch his own fund, according to one of the sources. Shapiro’s plans are unknown.