Billionaire Cohen Buys 5.2% Of Validus
Businessweek reports today that billionaire Steven A. Cohen’s SAC Capital Advisors has bought a 5.2 percent stake in Bermuda-based reinsurer Validus Holdings Ltd.
Steven A. Cohen is the founder of SAC Capital Advisors, a Stamford, Connecticut-based hedge fund focusing primarily on equity market strategies.
He has an estimated net worth of $9.3 billion as of September 2011, ranked by “Forbes” as one of the richest men in America
In October Reuters reported that Mr Cohen told investors he plans to launch SAC Re, a reinsurer based in Bermuda, early next year. He is reported to have tapped Bermuda insurance industry veteran Simon Burton to oversee the new venture.
