Hedge Fund Manager Sells Chicago Apt. For $15M

Nov 21 2012 | 10:37am ET

An Illinois hedge fund manager has earned a tidy 355% return on Chicago's richest condominium sale ever.

General Welfare Group's Richard Cooper has sold his penthouse in the Park Tower for $15 million. The hedge fund bought the then-unfinished space for just $3.3 million in 2000.

The 66th-floor apartment is nearly 8,000 square feet and has a 660-square-foot terrace, wraparound views and 16-foot ceilings.

The new owners also inherit Cooper's high-profile neighbor: Citadel Investment Group founder Kenneth Griffin and his wife, Aragon Global Management founder Anne Griffin, live one floor above the Cooper apartment, on the building's top floor.

The sale is the third-highest for any private residence in Chicago history.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this race. The Citadel...

Guest Contributor

Top 5 Predicted Outcomes Of CalPERS' Hedge Fund Divestment

Sep 22 2014 | 8:35am ET

CalPERS’ announcement to divest of hedge funds has created a significant buzz...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.