Steve Cohen Bidding For NY Mets Stake

April 14, 2011 James Heinsman Hedge Fund News

Steve Cohen, 54 year old U.S. hedge fund billionaire, is apparently among the bidders for a minority stake in the New York Mets baseball team.

Cohen’s firm, SAC Capital Advisors LLC, is based in Connecticut, and manages around $12 billion in assets.  Cohen was born in New York and is a long-time Mets fan with a net worth of $8 billion. Last year, Cohen donated $50 million to Long Island Jewish Medical Center for pediatric care. He is also an art collector, and has paid $137.5 million for Willem de Kooning’s Women III, and $84 million for Andy Warhol’s Marilyn Monroe.

The Stake, and Beyond

The Wilpon family, the Mets’ owners, have been discussing the sale of a stake for some time. The stake is between 25% and 49%. They plan continuing to manage the franchise while covering losses and fighting a billion-dollar lawsuit tied to the Ponzi scheme.

Other bidders include Steve Straker of the trading company BTIG, Douglas Ellin, creator of the HBO show Entourage, Ken Dichter of Marquis Jets, and a group formed by Anthony Scaramucci and James McCann.

An investment group including David Heller of Goldman Sachs and Mark Spilker of Apollo Global Management LLC is out of the bidding.

Hedge Funds, New York Mets, New York Mets Stake, SAC Capital Advisors LLC, Steve Cohen,

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