Retired Hedge Fund Manager Sells Rare Photographs

Jun 27 2013 | 9:26am ET

Former Moore Capital Management and GLG Partners star trader Greg Coffey has added to his retirement cushion through the sale of five photographs.

The five limited-edition prints by the artist Andreas Gursky netted £5.5 million, more than £2 million above their high estimate. The photos depict securities exchanges in Chicago, Hong Kong, Kuwait and Tokyo, and date from between 1990 and 2009. The Windy City bourse proved most attractive, with "Chicago Board of Trade III" fetching £2.2 million, a new record for a Gursky exchange photo.

Coffey had sought to sell the set as a whole to galleries prior to yesterday's auction at Sotheby's in London, but was unable to find a buyer.

Coffey left Moore late last year, saying he planned to return to his native Australia to spend more time with his family. He joined the firm four years earlier from GLG, but was unable to replicate his success at his new firm.


In Depth

Q&A: Old Hill's Stone On Private Debt, P2P And Credit Bubbles

Jun 6 2017 | 7:52pm ET

While institutional capital continues to flow into the broader private debt sector...

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

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of