Cohen Omitted From Art Collectors' 'Power' List

Nov 27 2013 | 9:31am ET

SAC Capital Advisors founder Steven Cohen's decision to sell $77 million worth of his prized art collection this month may have had nothing to do with his current legal predicament, but it has kept him off of a list of the most important art collectors in the world.

For the second straight year, Art & Auction magazine has left Cohen off of its Power 100 list. Editor-in-chief Benjamin Genocchio explained to Bloomberg Brief, "He's not on the list because he's de-accessioning. He switched gears in the last few months and turned from being an acquirer to being a seller."

Most recently, that's meant selling a cache of Warhols and other paintings at Sotheby's. The works, including pieces by Gerhard Richter and Brice Marden, disappointed, bringing in less than their high pre-sale estimate of $85 million.

The sales reportedly were not related to SAC's legal issues; the hedge fund earlier this month pleaded guilty to insider-trading charges and will pay $1.2 billion in fines, all of it from Cohen's pocket.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

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

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

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.