Steven Cohen, founder of hedge fund firm SAC Capital Advisors, was the secret buyer of the world’s most expensive sculpture, according to the New York Post. Cohen paid $141.3 million at a Christie’s auction in May for Alberto Giacometti’s Man Pointing, which the artist has said he completed in one night in 1947. The piece joins Cohen’s large art collection, which also includes works by Damien Hirst, Claude Monet and Willem de Kooning.
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Cohen also parted with something of value this week: the Post’s Page 6 reports that he sent his family’s pet pig, Romeo, away to a “vegan rescue facility” in Florida after it got too fat. The pig reportedly weighed more than 150 pounds and, according to a source, “was treated like the king of the house,” the source told the Post. “They even threw a leaving dinner for him.”
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“You don’t want to be in the Hamptons,” a hedge fund portfolio manager told Business Insider as part of his advice to new Wall Street recruits and interns. “How are you going to be working on Monday? You have eight weeks to prove yourself. It’s insane!”
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“He has a lot more money than you ... He will make sure you will never be able to raise or manage money again.” These were allegedly the words used to describe Michael Platt of London-based BlueCrest Capital to Kenbelle Capital’s Meredith Whitney, according to an affidavit filed in BlueCrest’s lawsuit against Kenbelle. Whitney relayed the conversation to show the aggressiveness with which BlueCrest allegedly attempted to redeem its $50 million investment in Whitney’s American Revival hedge fund. BlueCrest recently dropped its suit against Kenbelle over the redemption.
