{"id":1982,"date":"2023-11-13T10:23:40","date_gmt":"2023-11-13T02:23:40","guid":{"rendered":"https:\/\/www.atelierauction.com\/globalupdates\/?p=1982"},"modified":"2023-11-13T10:23:40","modified_gmt":"2023-11-13T02:23:40","slug":"the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business","status":"publish","type":"post","link":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/","title":{"rendered":"The Collection of a Discreet Hedge-Funder Has Quietly Become Active Business"},"content":{"rendered":"<p>When financier\u00a0<a id=\"auto-tag_arthur-samberg\" href=\"https:\/\/www.atelierauction.com\/globalupdates\/\" data-tag=\"arthur-samberg\">Arthur Samberg<\/a>\u00a0died in July 2020 at 79, he was best known as the founder of Pequot Capital Management, one of the largest US hedge funds in the early 2000s. But court documents reviewed by\u00a0<em>ARTnews<\/em>\u00a0reveal that, behind the scenes, Samberg and his family were quiet major art collectors, owners of blue-chip works by Jackson Pollock, Constantine Brancusi, Willem de Kooning, Roy Lichtenstein, Andy Warhol, and Edward Hopper, among others.<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">Beginning in February 2021, Samberg\u2019s estate began selling off holdings to select galleries, according to public records filed in New York at the time. Among the works consigned were Jenny Holzer\u2019s\u00a0<em>Go where people sleep and see if they are safe,\u00a0<\/em>a red granite bench first produced in 1983, and an untitled LED sign from 2003, both of which were privately consigned to Hauser &amp; Wirth. Around the same time, the estate also consigned Joyce Pensato\u2019s 2016 painting\u00a0<em>Flashy Donald<\/em>\u00a0to Friedrich Petzel in New York.<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">Samberg founded Pequot in 1998. By 2001, the firm was reported to be the largest hedge fund in the world, with $15 billion in assets. Only eight years later, Pequot closed following an SEC insider trading probe, Samberg and Pequot<a href=\"https:\/\/www.atelierauction.com\/globalupdates\/\" target=\"_blank\" rel=\"nofollow noopener\">\u00a0agreeing to a settlement<\/a>\u00a0that included a $28 million fine and barred him from association with an investment adviser.<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">Samberg and his wife, Rebecca, were noted philanthropists, particularly for major Jewish organizations and higher education. Though they were noted supporters of organizations like Jazz at Lincoln Center and the Jacob Burns Film Center, and Rebecca served as a trustee at the Katonah Museum of Art in Upstate New York, they never cultivated reputations as cultural patrons in the art world, either as collectors or supporters of major arts institutions. For example, the Sambergs never featured on the\u00a0<em>ARTnews<\/em>\u00a0Top 200 Collectors list. (A representative from the Katonah Museum of Art did not respond to an\u00a0<em>ARTnews<\/em>\u00a0inquiry.)<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">The Sambergs\u2019 lack of engagement in the art world and their previously unknown collection may speak to a view of their collecting as investment-minded, rather than driven by the reputational benefits that accrue from ties to museums and living artists. According to a recent survey of high-net-worth collectors published by Art Basel and UBS, only 10 percent of collectors identify as \u2018investor\u2019 types.<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">Meanwhile, as recent industry reports have detailed, the art market\u00a0<a href=\"https:\/\/www.facebook.com\/AtelierAuctionsg\">appears to have cooled considerably<\/a>, with transactions at the top being more conservative. That economic environment has increased the necessity for auction houses and other top art trade players to pursue the business of valuable estates. Just last week, the\u00a0<em>New York Times<\/em>\u00a0reported that major auction houses have struggled with a \u201cthinning availability of estates\u201d to draw from, forcing them to dig deeper into private collections for one-off works, and often pricing those works lower to drive competition. Those consignments are typically the subject of tense negotiations. For example, one collector and museum trustee, who asked to remain anonymous, told\u00a0<em>ARTnews<\/em>\u00a0that Sotheby\u2019s specialists had estimated a $6 million Philip Guston painting from 1952 that he\u2019d consigned to an evening sale at a value lower than he believed it was ultimately worth.<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">Public financial documents filed in New York in 2015[HJ1] show that the Sambergs listed seven works from their private collection that were used as collateral for a loan from Bank of America. The document provides a window into their collection. Works held by the Sambergs at the time included Brancusi\u2019s 1911 sculpture of a head,\u00a0<em>Sleeping Muse<\/em>, and Roy Lichtenstein\u2019s 1977 painting\u00a0<em>Interior with Woman<\/em>. An edition of the Brancusi sold in 2017 at Christie\u2019s for $57 million, while a 1977 Lichtenstein titled<em>\u00a0Landscape with Figures\u00a0<\/em>sold for $18 million in 2014.<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">Meanwhile, another work listed in the document, Edward Hopper\u2019s 1945 painting<a href=\"https:\/\/www.facebook.com\/AtelierAuctionsg\" target=\"_blank\" rel=\"nofollow noopener\">\u00a0<em>Two Puritans<\/em><\/a>, sold at Christie\u2019s for $11.6<em>\u00a0<\/em>million about a year and half after Samberg\u2019s death, in November 2021. It was partially owned by the auction house, according to a cataloging note published at the time of the sale. The house assumed ownership of the work years earlier, in 2015, when the Sambergs consigned it to a New York evening sale; it failed to sell when offered at an estimate of $20 million\u2013$30 million.<\/p>\n<p class=\"paragraph larva \/\/ a-font-body-m     \">An attorney who worked on the transactions declined an\u00a0<em>ARTnews<\/em>\u00a0request for comment owing to confidentiality. A representative for Hauser &amp; Wirth declined to comment on the status of the estate.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Source\uff1ahttps:\/\/www.artnews.com\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When financier\u00a0Arthur Samberg\u00a0died in July 2020 at 79, he was best known as the founder of Pequot Capital Management, one of the largest US hedge funds in the early 2000s. But court documents reviewed by\u00a0ARTnews\u00a0reveal that, behind the scenes, Samberg and his family were quiet major art collectors, owners of blue-chip works by Jackson Pollock, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,13,7,4,3],"tags":[],"class_list":{"0":"post-1982","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artist","8":"category-auction","9":"category-events","10":"category-gallery","11":"category-latest-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Collection of a Discreet Hedge-Funder Has Quietly Become Active Business - Investable Art Auctioneer<\/title>\n<meta name=\"description\" content=\"When financier\u00a0Arthur Samberg\u00a0died in July 2020 at 79, he was best known as the founder of Pequot Capital Management, one of the largest US hedge funds in the early 2000s.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Collection of a Discreet Hedge-Funder Has Quietly Become Active Business - Investable Art Auctioneer\" \/>\n<meta property=\"og:description\" content=\"When financier\u00a0Arthur Samberg\u00a0died in July 2020 at 79, he was best known as the founder of Pequot Capital Management, one of the largest US hedge funds in the early 2000s.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Investable Art Auctioneer\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-13T02:23:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.atelierauction.com\/globalupdates\/wp-content\/uploads\/2023\/11\/Collection-of-Hedge-Funder-Arthur-Samberg-Has-Become-Active-Business-_-www.artnews.com_.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"647\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Chloe Nicholls\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Chloe Nicholls\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/\",\"url\":\"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/\",\"name\":\"The Collection of a Discreet Hedge-Funder Has Quietly Become Active Business - Investable Art Auctioneer\",\"isPartOf\":{\"@id\":\"https:\/\/www.atelierauction.com\/globalupdates\/#website\"},\"datePublished\":\"2023-11-13T02:23:40+00:00\",\"dateModified\":\"2023-11-13T02:23:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.atelierauction.com\/globalupdates\/#\/schema\/person\/8970f67f73afbf7d021dbf09ccb32744\"},\"description\":\"When financier\u00a0Arthur Samberg\u00a0died in July 2020 at 79, he was best known as the founder of Pequot Capital Management, one of the largest US hedge funds in the early 2000s.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.atelierauction.com\/globalupdates\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Collection of a Discreet Hedge-Funder Has Quietly Become Active Business\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.atelierauction.com\/globalupdates\/#website\",\"url\":\"https:\/\/www.atelierauction.com\/globalupdates\/\",\"name\":\"Investable Art Auctioneer\",\"description\":\"Atelier Auction\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.atelierauction.com\/globalupdates\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.atelierauction.com\/globalupdates\/#\/schema\/person\/8970f67f73afbf7d021dbf09ccb32744\",\"name\":\"Chloe Nicholls\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.atelierauction.com\/globalupdates\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/17de1bd86f8b21c51e6105f410fd264e72dda3abc6429dc91326e1a0ab2c365c?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/17de1bd86f8b21c51e6105f410fd264e72dda3abc6429dc91326e1a0ab2c365c?s=96&d=mm&r=g\",\"caption\":\"Chloe Nicholls\"},\"url\":\"https:\/\/www.atelierauction.com\/globalupdates\/author\/chloe-nicholls\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Collection of a Discreet Hedge-Funder Has Quietly Become Active Business - Investable Art Auctioneer","description":"When financier\u00a0Arthur Samberg\u00a0died in July 2020 at 79, he was best known as the founder of Pequot Capital Management, one of the largest US hedge funds in the early 2000s.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/","og_locale":"en_US","og_type":"article","og_title":"The Collection of a Discreet Hedge-Funder Has Quietly Become Active Business - Investable Art Auctioneer","og_description":"When financier\u00a0Arthur Samberg\u00a0died in July 2020 at 79, he was best known as the founder of Pequot Capital Management, one of the largest US hedge funds in the early 2000s.","og_url":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/","og_site_name":"Investable Art Auctioneer","article_published_time":"2023-11-13T02:23:40+00:00","og_image":[{"width":864,"height":647,"url":"https:\/\/www.atelierauction.com\/globalupdates\/wp-content\/uploads\/2023\/11\/Collection-of-Hedge-Funder-Arthur-Samberg-Has-Become-Active-Business-_-www.artnews.com_.jpg","type":"image\/jpeg"}],"author":"Chloe Nicholls","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Chloe Nicholls","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/","url":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/","name":"The Collection of a Discreet Hedge-Funder Has Quietly Become Active Business - Investable Art Auctioneer","isPartOf":{"@id":"https:\/\/www.atelierauction.com\/globalupdates\/#website"},"datePublished":"2023-11-13T02:23:40+00:00","dateModified":"2023-11-13T02:23:40+00:00","author":{"@id":"https:\/\/www.atelierauction.com\/globalupdates\/#\/schema\/person\/8970f67f73afbf7d021dbf09ccb32744"},"description":"When financier\u00a0Arthur Samberg\u00a0died in July 2020 at 79, he was best known as the founder of Pequot Capital Management, one of the largest US hedge funds in the early 2000s.","breadcrumb":{"@id":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.atelierauction.com\/globalupdates\/artist\/the-collection-of-a-discreet-hedge-funder-has-quietly-become-active-business\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.atelierauction.com\/globalupdates\/"},{"@type":"ListItem","position":2,"name":"The Collection of a Discreet Hedge-Funder Has Quietly Become Active Business"}]},{"@type":"WebSite","@id":"https:\/\/www.atelierauction.com\/globalupdates\/#website","url":"https:\/\/www.atelierauction.com\/globalupdates\/","name":"Investable Art Auctioneer","description":"Atelier Auction","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.atelierauction.com\/globalupdates\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.atelierauction.com\/globalupdates\/#\/schema\/person\/8970f67f73afbf7d021dbf09ccb32744","name":"Chloe Nicholls","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.atelierauction.com\/globalupdates\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/17de1bd86f8b21c51e6105f410fd264e72dda3abc6429dc91326e1a0ab2c365c?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/17de1bd86f8b21c51e6105f410fd264e72dda3abc6429dc91326e1a0ab2c365c?s=96&d=mm&r=g","caption":"Chloe Nicholls"},"url":"https:\/\/www.atelierauction.com\/globalupdates\/author\/chloe-nicholls\/"}]}},"_links":{"self":[{"href":"https:\/\/www.atelierauction.com\/globalupdates\/wp-json\/wp\/v2\/posts\/1982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.atelierauction.com\/globalupdates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.atelierauction.com\/globalupdates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.atelierauction.com\/globalupdates\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.atelierauction.com\/globalupdates\/wp-json\/wp\/v2\/comments?post=1982"}],"version-history":[{"count":1,"href":"https:\/\/www.atelierauction.com\/globalupdates\/wp-json\/wp\/v2\/posts\/1982\/revisions"}],"predecessor-version":[{"id":1984,"href":"https:\/\/www.atelierauction.com\/globalupdates\/wp-json\/wp\/v2\/posts\/1982\/revisions\/1984"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.atelierauction.com\/globalupdates\/wp-json\/wp\/v2\/media\/1983"}],"wp:attachment":[{"href":"https:\/\/www.atelierauction.com\/globalupdates\/wp-json\/wp\/v2\/media?parent=1982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.atelierauction.com\/globalupdates\/wp-json\/wp\/v2\/categories?post=1982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.atelierauction.com\/globalupdates\/wp-json\/wp\/v2\/tags?post=1982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}