Subscribe to Breaking News emails

You have successfully subscribed to the Breaking News email.

Subscribe today to be the first to to know about breaking news and special reports.

Steve Cohen Just Bought This Sculpture for $101 Million

 / Updated 
Image: US-ART-SOTHEBY'S-PREVIEW
Alberto Giacometti's Chariot, which was a part of Sotheby's New York November Evening auctions items.JEWEL SAMAD / AFP - Getty Images

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

Steve Cohen's legal challenges haven't slowed his investing gains—or his spending.

Cohen—whose firm SAC Capital settled criminal insider charges for $1.8 billion last year—bought a sculpture at auction last week for $101 million, according to people familiar with the transaction. The purchase comes after his new fund posted gains of 15 percent through the end of October, according to people familiar with the fund.A spokesman for Cohen declined to comment on the deal. The news was first reported by The New York Times. Cohen purchased a bronze sculpture by Alberto Giacometti called Chariot, which sold for $101 million including commissions at Sotheby's impressionist and modern art sale last week. The piece was one of only six made and one of only two in private hands.

-- Robert Frank, CNBC

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.

Breaking News Emails

Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings.
MORE FROM news