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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Steve Cohen Takes Price Cut on Manhattan Condo

Jan 01, 2014
Jing Chen

Steve Cohen, the founder of embattled Connecticut-based hedge fund firm SAC Capital Advisors, has slashed the price of his multi-million dollar Manhattan apartment.

The Daily News reported that Cohen's Bloomberg Tower duplex is now listing for $98 million from its original $115 million. The hedge fund honcho purchased the apartment—which was originally a two-unit spread-- in 2005 for $25.9 million.

Besides a condominium he recently purchased in New York City’s West Village neighborhood, Cohen also owns a $62.5 million mansion in East Hampton and a 35,000-square-foot compound in Greenwich, Conn. 

SAC pleaded guilty to insider trading last month after a grand jury charged the firm in July with wire fraud and four counts of securities fraud for allegedly allowing insider trading to go unchecked from 1999 through at least 2010. The SEC also charged Cohen in a civil lawsuit for failing to prevent insider trading at his firm.

SAC had about $14 billion in total assets under management as of July 1.

 

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