Hedge Funds

Cohen goes art shopping

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SAC Capital Advisors' Steven Cohen was hitting the art auctions again last month, spending $63.5 million for a Willem de Kooning painting, "Police Gazette".

Cohen apparently was prepared to spend even more to buy a Picasso, but the sale of "Le Reve" came to a halt after the seller, gaming tycoon Steve Wynn, accidentally ruptured the canvas with his elbow. Cohen was reportedly prepared to pay $139 million for the painting.

Based on his purchases since 2002, Cohen is considered one of the world's top ten collectors by Art News.