Global Alpha Chief Buys $14M Park Ave. Apt.

Sep 17 2008 | 10:55am ET

His hedge fund isn’t the Cadillac that it once was, but that hasn’t stopped Goldman Sachs’ Raymond Iwanowski from buying his deluxe apartment in the sky.

The Global Alpha manager—who saw his fund lose almost 40% last year and shrink by more than half due to redemptions—has bought a five-bedroom pad on New York’s Upper East Side for almost $13.6 million.

The full-floor Park Avenue condo is hardly the most extravagant real-estate purchase by a hedge fund manager in recent months: John Paulson, whose funds were returning triple digits while Iwanowski’s secretive quantitative fund was hemorrhaging red, paid $41.3 million for a 10-acre Hamptons estate earlier this year. But it isn’t too shabby, either. The 4,184-square-foot residence features nine rooms and two fireplaces.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

Securities and Exchange Commission Chair Mary Jo White will step down as chair of the nation’s Wall Street overseer in January, setting the stage for a potential conservative shift in the regulator’s leadership under the incoming Donald Trump administration.