Hamptons Scene: Former SAC Trader Chad Loweth Hosts Salon
Chad Loweth, formerly of SAC Capital Advisors LLC and Diamondback Capital Management LLC, hosted an art salon Saturday night in Water Mill.
“The idea came about last year when I was at Art Basel with friends and a lot of them really didn’t understand contemporary art,” Loweth, 55, said. “If you could meet the artists, then you could have a personal connection to the piece.”
Held under a tent next to Loweth’s home, the event brought out 300 guests, including Miss USA Erin Brady, actress Melissa George, tech investor Jean-David Blanc, MSD Capital LP’s Glenn Fuhrman, and Kyle DeWoody, creative director of Grey Area.
On display were Henry Richardson’s chiseled colored-glass sculptures, Domingo Zapata’s graffiti-like paintings and human-head forms by Richard Dupont. Loweth encouraged guests to talk with the artists about their work.
“If you look at sports, or most anything, there are sponsors -- coaches or agents -- who help talented athletes along their way,” Loweth said.
Loweth declined to say what he’s up to business-wise. He did not take a commission on the several pieces that sold.
“I’m not a gallery, I’m not getting paid,” he said. “Obviously I collect their art, so if their art goes up in value I’m not not getting something.”
“I have a lot of 19th-century, French, classic paintings in my home,” said Glenn Mierendorf, portfolio manager at Lincoln Capital LLC and a former colleague of Loweth’s at Diamondback Capital. “Eventually you want to make a switch and go contemporary.”
Wearing a T-shirt, parachute pants and black ballet slippers, Angle talked the audience through choreography by City Ballet founder George Balanchine.
“I live in the world of a genius,” Angle, 32, said. “I’m a full-fledged Balanchine junkie.”
Members of the company performed excerpts from Balanchine’s “Agon” and “Apollo,” as well as current ballet-master-in-chief Peter Martins’s version of “Swan Lake” based on Marius Petipa’s 1895 story ballet.
With earlier choreographers, Angle said, “You’re dancing on top of the music, it’s so even. With Balanchine, you’re inside the music.”
“I love this, it’s so intimate and personal,” interior designer Charlotte Moss said at the end of the Aug. 16 program.
It was the company’s first performance on Guild Hall’s stage, which is perilously small for dance.
“We’re trying to find a model so we can travel to places like this,” said Kathy Brown, executive director of New York City Ballet.
“The goal always is to get people to come to Lincoln Center,” said board member Barbara Slifka. The visit included workshops with local budding ballerinas.
New York City Ballet begins its next season at Lincoln Center’s David H. Koch Theater on Sept. 17.
(Nathaniel E. Baker is the editor of Bloomberg Brief: Hedge Funds, a publication of Bloomberg LP. Amanda Gordon is a writer and photographer for Muse, the arts and leisure section of Bloomberg News. Any opinions expressed are their own.)
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