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Disgraced Steve Cohen At Hedge Fund Party After SEC Deal

Although perhaps not as exciting as a Citadel gala featuring Katy Perry or a Nouriel Roubini party, Steve Cohen knows how to have a good time.

Somehow disgraced ex-SAC Capital principal Steve Cohen is almost back in the saddle again. All he has to do is quietly manage his $9 billion family firm Point72 Investments and wait out two years, and then he’s free to rejoin the hedge fund titans of Wall Street again. This despite Cohen’s SAC Capital pleading guilty on multiple fraud charges and agreeing to cough up $1.8 billion to settle the case with the Securities and Exchange Commission just a couple of years ago.

As reported last week, Cohen reached a final agreement with the SEC that could have his public funds trading ban lifted as early as 2018.

Furthermore, according to a report from Bloomberg, Cohen was seen “taking a victory lap” among peers at the Lincoln Center Alternative Investment Industry Gala less than a week after his settlement with the SEC was announced. The article by Amanda L. Gordon also highlighted the many “warm greetings” Cohen from colleagues and well-wishers at the affair.

Cohen even spoke on the record, saying: “It’s one of those decisions, who knows, who knows what the markets will be like,” Cohen said, noting that 2018 is a long way off. “All I know is things are good, we’re happy.”

 

Comments on Steve Cohen from guests at the Lincoln Center Alternative Investment Industry Gala

Guests attending the Wednesday evening soiree had the chance to mingle with hedge-fund chiefs such as Dan Och, James Dinan and Bruce Richards, and many other well known names in the alternatives industry.

Of note, the Lincoln Center Gala raised close to $1 million to support performing arts and educational activities on the campus of the center in the coming year.

“The beautiful thing is, it’s Steve’s decision to make,” Richards commented during the music performance of the evening by Five for Fighting.

Julie Macklowe, an ex-Cohen employee who now manages a business in the beauty sector, commented at the party that she wants Cohen to “Take the money. I told him, I’m saving him my wheelbarrows to collect it. I want to be the first in.”

Steve Cohen
Image credit: Diners Drive-ins and Dives/YouTube