S.A.C. Capital Advisors, LP, also known as S.A.C. Capital Management, LLC, is a hedge fund management firm founded by Steven A. Cohen in 1992. The firm is affiliated with CR Intrinsic Investors, L.L.C., Canvas Capital Management, L.P., Walter Capital Management LLP and Sigma Capital Management, L.L.C.
Steve Cohen Net Worth: $8.8 million
A Wharton grad, Cohen landed a position at Gruntal & Co. as an options trader in 1978. Legend has it that he booked an $8,000 profit in his first day on the job. Cohen went solo in 1992, launching SAC Capital with $25 million in assets. Today Cohen is widely regarded as one of the most powerful forces in equity trading; his Stamford-based firm manages $13 billion. After besting the competition with an 8% net return in 2011, a year in which the average hedge fund was down 5%, SAC’s flagship fund was up 8% through August of 2012. A prolific art collector, he purchased a 4% stake in the New York Mets for $20 million in 2012; he unsuccessfully tried buying a much larger stake in the Los Angeles Dodgers this spring.
S.A.C. Capital Advisors, LP covers the broad spectrum of international long/short equity, fixed income, statistical arbitrage, global macro, credit, commodities and options. The firm’s team of analysts performs company specific fundamental research and analytical work. S.A.C. Capital typically maintains exposure to a core group of stocks that it buys and holds with the expectation that the stock will increase in value over time. The firm is generally heavily invested in the retail and consumer products sectors. S.A.C. Capital uses sell-side research, however in-house research forms the basis for all investments.
Steven A. Cohen is the chief executive officer, the chief investment officer and a trader at S.A.C. Capital Advisors, LP. Prior to founding the firm in 1992, Mr. Cohen ran his own trading group at Gruntal Financial Corporation.
Preference: Mr. Cohen prefers to go by the name “Steve”.
Steve Cohen obtained a graduate degree from the University of Pennsylvania in 1978.
Mr. Cohen, his wife Alexandra, and their six children reside on Crown Lane in Greenwich. He was raised in Great Neck, NY.
View Steve Cohen’s lavish home – Steve Cohen real-estate
As founder of hedge fund SAC Capital Advisors, Cohen boasts a net worth of an estimated $8.3 billion. His interests are varied as well – he is an art collector and has a strong interest in philanthropy, recently contributing $50 million to the North Shore-Long Island Jewish Health System.
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