Goldman Sachs Supports Cohen With Loan Backed by Fine Art
This article is for subscribers only.
Goldman Sachs Group Inc., which stood by Steven A. Cohen last year as his SAC Capital Advisors LP bore the brunt of a massive insider trading probe, has come to the billionaire’s aid again.
The top prime broker to the former hedge-fund firm, Goldman Sachs is making a personal loan to Cohen for the first time, according to a regulatory filing, joining the list of banks that have provided SAC’s founder with credit lines backed by his $1 billion art collection. Like Citigroup Inc., JPMorgan Chase & Co. and Bank of America Corp., New York-based Goldman Sachs is making the loan through its private bank as part of an effort to expand its business catering to ultra-wealthy individuals.