Steve Cohen: is there a family office?

Steve Cohen is an American hedge fund investor who amassed his wealth through SAC Capital, one of the highest-performing hedge funds of all time. As of February 2024, Cohen has an estimated net worth of $19.8bn putting him the 97^th richest person in the world according to Forbes. We take a closer look if how he manages his wealth through a personal Steve Cohen 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 in 1978 at Gruntal & Co, where he helped the firm earn $100,000 a day and amass a $75 million portfolio. In 1992, Cohen founded SAC Capital with $10 million of his own money and another $10 million of debt. After 20 years he transformed the hedge fund into the multi-family office Point72. The office includes Point72 Ventures, a global venture capital strategy firm. Additionally, the family office contains Point72 Hyperscale, a private equity strategy that seeks value through applied AI. In fact, Point72 manages a $26 billion fund and began managing outside capital in 2018. Cohen’s single family office is Cohen Private Ventures. It is based in Stamford and invests long-term capital through direct private investments and other opportunistic transactions. Cohen Private Ventures’ investment strategies are based on direct private equity, growth equity, and venture capital. Additionally, it invests in structured securities, real estate, and credit investments. In January 2021, Cohen Private Ventures invested in Collectors Universe, resulting in a 20% increase in share price to $92. Next to his business activities, Cohen is an avid philanthropist. In the early 2000s, he founded the Steven & Alexandra Cohen Foundation. Mainly the foundation is dedicated to children’s health, education, veterans, and the arts. Altogether Cohen has donated over $1 billion to philanthropic causes during his lifetime. Finally, in August 2022, Cohen became a minority owner of the New York Mets MLB team. His $2.4 billion purchase was the highest sale price ever for an MLB team at the time.

Picture source: Patrick Weissenberger