Long Island Children’s Hospital Named For SAC’s Cohen

Mar 26 2010 | 3:57am ET

The children of Long Island have a new champion: SAC Capital Advisors’ Steven Cohen.

The hedge fund honcho has given $50 million—and his name—to the former Schneider Children Hospital in New Hyde Park, N.Y. The hospital, just a few miles from Cohen’s hometown of Great Neck, will be called the Steven and Alexandra Cohen Children’s Medical Center of New York, the North Shore-LIJ Health System announced.

The Cohen’s donation will be used to complete an expansion postponed in 2008, after the donors pulled out following the Bernard Madoff scandal. The hospital plans to add 50 beds to its pediatric intensive care and medical surgery units.

“Pediatric health care is an issue that is near and dear to our hearts,” Cohen said.

The Cohens have donated millions to children’s hospitals, including $7 million to the Long Island hospital over the past decade.

The Schneider family has been sponsoring the hospital since 1983, but earlier this month asked their name be removed. The family wishes to have the name used exclusively on a children’s hospital in Israel.

Earlier this month, the Cohens made a more personal donation somewhat closer to home, giving their Zamboni machine to the Rye Country Day School, the private school in Westchester County, N.Y., attended by their daughters. The Cohens are dismantling the ice rink at their Greenwich, Conn., mansion.


In Depth

AIMA: Smaller Firms Remain the Lifeblood of the Hedge Fund Industry

Jul 26 2017 | 5:55pm ET

It is a hedge fund industry truism that the largest managers receive the most attention...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...