Thursday, 25 December 2014
Last updated 1 day ago
Mar 16 2009 | 12:24pm ET
SAC Capital Advisors’ Steven Cohen owns one of the largest and richest art collections in the world, one that has been rarely seen outside the confines of his Connecticut estate. But for two weeks next month, some of the highlights of the Cohen collection will be publicly displayed by a company in which SAC owns a big stake.
Cohen is lending 20 pieces—combined value: $450 million—to Sotheby’s, which will show the works in New York. All of the paintings, which are not for sale, depict female subjects, and include works by Vincent Van Gogh, Pablo Picasso, Willem de Kooning and Andy Warhol. It also includes a pair of Henri Matisse sculptures.
“Our collection has not been curated before,” Cohen and his wife, Alexandra, said in a statement. “It will be an exciting experience for us.”
SAC owns a 5.9% stake in Sotheby’s. The free exhibit runs from April 2 through April 14 at Sotheby’s headquarters on York Avenue in Manhattan.
The show is the largest-ever exhibition of works from the Cohen collection, though it is not the first time he’s shown works that he owns. Visitors to the Sotheby’s exhibit need go no further than the Metropolitan Museum of Art, just a 20 minute walk from Sotheby’s, to see Damien Hirst’s The Physical Impossibility of Death in the Mind of Someone Living—an embalmed shark in a tank—which is on long-term loan to the museum.
Some of the works to be shown by Sotheby’s are among the most expensive in Cohen’s collection. The billionaire hedge fund chief paid $137 million for the De Kooning, $80 million for the Warhol and $34.7 million for the Picasso.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
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