Frat Toasts Cohen For Renovation Donation

Nov 26 2013 | 10:34am ET

The brothers of the Zeta Beta Tau fraternity chapter at the University of Pennsylvania will soon have working plumbing and heating—and they've got their brother, SAC Capital Advisors founder Steven Cohen, to thank.

The fraternity broke ground on the renovations to their 84-year-old Philadelphia home on Nov. 9, just one day after Cohen's hedge fund pleaded guilty to insider-trading charges.

Cohen, a member of the fraternity in the 1970s during his undergraduate days at Penn, put up $2 million for the repairs, half of the $4 million ZBT sought. Cohen made the donation in April 2009, according to the New York Post.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…