Steven Cohen, newly an investor in Sotheby’s, is to display $420 million worth of art the auction house, in an exhibition to be based on women.

March 16th, 2009

Le Repos (1932) by Pablo Picasso, via Artnet

Steven Cohen, founder of prominent hedge fund SAC Capital, and his wife Alexandra have lent Sotheby’s 20 artworks valued at $450 million worth of art from their very substantial collection. The works will be displayed from April 2nd to April 14th at Sotheby’s New York headquarters, and will revolve around the female form and its portrayal from 1890 to the present. The exhibition is not tied to a sale, and is entitled Women.

Women III by Willem de Kooning, Turquoise Marilyn by Andy Warhol, Madonna by Edvard Munch, and Le Repos by Pablo Picasso will be amongst the pieces on display, alongside paintings by more contemporary artists such as Lisa Yuskavage and Marlene Dumas.  Cohen bought the de Kooning from David Geffen for $137 million, spent $80 million to acquire Turquoise Marilyn from Stefan Edlis, and acquired the Picasso at auction for $34.7 million.

Cohen and his wife are avid collectors, and have accumulated one of the most significant collections of 20th century art in the world, according to Tobias Meyer, Sotheby’s head of contemporary art. Cohen is known for owning a formaldehyde-enclosed shark by Damien Hirst, currently on loan to the Metropolitan Museum in New York, and has been steadily expanding his collection over the last ten years, buying works by major artists.

In a statement released through Sotheby’s, Mr Cohen remarked: “Our collection has not been curated before. It will be an exciting experience for us.”

SAC Capital has also become one of the larger shareholders of Sotheby’s, accumulating a 5.9% stake after its share price has collapsed over the past 6 months due to lackluster results.

SAC Capital’s Steve Cohen Lends Sotheby’s 20 Artworks [Bloomberg]
Sotheby’s investor to show collection [Financial Times]
Hedge fund manager Steve Cohen puts £320m art collection on show [Telegraph UK]
The tycoon who loved women so much he spent $700m on them[Independent UK]
Why’s Steve Cohen Showing Sotheby’s So Much Love? [New York Magazine]
Sotheby’s to Show Works From Cohen Collection [ArtInfo]

Steven Cohen, collector and founder of SAC Capital, via New York Magazine

Turquoise Marilyn (1964) by Andy Warhol, via Superflygallery

Madonna (1895) by Edvard Munch via Wikimedia

Figure decorative (1908) by Henri Matisse, via Artnet

Untitled Film Still #21 (1977) by Cindy Sherman, via the MOMA