N.J. Gov. Welcomes Cohen To Victory Party

Nov 15 2013 | 11:46am ET

His many expensive troubles notwithstanding, SAC Capital Advisors founder Steven Cohen still has at least one friend in a high place.

Cohen was the personal guest of New Jersey Gov. Chris Christie at the latter's reelection victory party last week, Fox Business Network reports. In addition to attending the celebration, Cohen was among a handful of Christie backers to dine with the Republican governor last Tuesday.

Just a day earlier, Cohen's firm agreed to plead guilty to insider-trading charges and pay $1.2 billion. Cohen is still the target of both a Securities and Exchange Commission lawsuit that seeks to ban him from trading, and of federal criminal investigations that could send him to prison.

"Mr. Cohen was in attendance on Election Night along with nearly 2,400 other attendees," a Christie spokesman told Fox.

Christie was easily returned to office, taking more than 60% of the vote in New Jersey, usually a reliable Democratic Party bastion. The huge victory has Christie tipped as a front-runner for the G.O.P. presidential nomination in 2016.

According to Fox, Christie and Cohen, who lives in Greenwich, Conn., are friends. Cohen last year sought to draft Christie to run against President Barack Obama, with Christie demurring. Christie reportedly pushed a reluctant Cohen in attending the party because he had heard that the hedge fund manager was depressed.

The governor "told Steve to get off his couch," a source told Fox.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...