This article directly stems from the research process for our American single family office database. Our list of U.S. single family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity, and renewables.
Steve Cohen is an American hedge fund investor that amassed his wealth through SAC Capital, one of the highest performing hedge funds of all time. As of December 2022, Cohen has an estimated net worth of $17.5bn putting him the 94th richest person in the world according to Forbes. In this article, we will investigate if Cohen manages his wealth through a family office.
Cohen manages his wealth through multi-office Point72 and single-family office Cohen Private Ventures
Cohen got his first job on Wall Street with Gruntal & Co in 1978, thanks to Cohen the company earned $100,000 a day and amassed a $75m portfolio. In 1992, Cohen established SAC Capital using $10m of his own money and a further $10m from outside capital. In 2014, he converted the hedge fund into a multi-family office Point72. The offices include Point72 Ventures a global venture capital strategy firm and Point72 Hyperscale a private equity strategy that seeks value through applied AI. Point72 manages a $26bn fund and began managing outside capital in 2018. Cohen’s single-family office, Cohen Private Ventures is located in Stamford and invests long-term capital through direct private investments and other opportunistic transactions. Cohen Private Ventures investment strategies are based upon direct private equity, growth equity, and venture capital as well as structured securities, real estate, and credit investments. In January 2021, Cohen Private Ventures invested in Collectors Universe which leads to a 20% jump in stock price to $92. Cohen is a keen philanthropist and founded the Steven & Alexandra Cohen Foundation in 2001 which commits to making changes to children’s health, education, veterans, and the arts. Cohen has given over $1bn to philanthropic causes over his lifetime. In August 2022, Cohen became a minority owner of the New York Mets MLB team. His $2.4bn purchase was the highest sale price ever for an MLB team at the time.
Picture source: Patrick Weissenberger