Steven Andrew Tananbaum (born 1964 or 1965) is an American hedge fund manager. He is the chief investment officer of GoldenTree Asset Management, which he founded in 2000. He manages the firm's investment team and oversees the executive committee. In 2018, Bloomberg referred to Tananbaum as "one of Wall Street’s biggest investors in distressed debt."[4]
Career
Tananbaum worked for Kidder, Peabody & Co., before joining MacKay Shields, where he led the firm's high yield group. He left in 2000 and founded GoldenTree Asset Management.
As of July 2023, GoldenTree had about $50 billion in assets under management (AUM).[5]
Personal life
Tananbaum is a Vassar College graduate.[3] In 1992, Tananbaum married Lisa A. Munster.[6] They live in Palm Beach, Florida. As of April 2023, Tananbaum had an estimated net worth of about $2.28 billion.[7]
Tananbaum is a member of the Council on Foreign Relations.
Art collecting
Collection
Tananbaum's art collection includes works by Damien Hirst, Brice Marden, Ellsworth Kelly, Frank Stella, Willem de Kooning, Gerhard Richter, Jenny Saville, Takashi Murakami, Andreas Gursky, and Tom Sachs.[8]
Legal proceedings
In 2018 Tananbaum sued the Gagosian Gallery (Tananbaum v. Gagosian Gallery, 651889/2018) "over the non-delivery of three Koons sculptures" claiming that deposits were accepted and delivery of the works, including a "Balloon Venus", were delayed.[4][9] In January 2020, an agreement was filed in Manhattan Supreme Court and the case was settled; terms were undisclosed.[10]
Philanthropy
In 2017, the Tananbaums gave $1 million to endow a curatorial position at the Block Museum of Art at Northwestern University.[3]
References
- Helen Thomas. The 20 Rising Hedge Fund Stars Financial Times, 5 July 2007, retrieved 6 September 2019^
- Davide Scigliuzzo. GoldenTree Is Making Its Biggest Bet Yet on Private Credit With $1.5 Billion Fund Bloomberg, May 19, 2022^
- Stephanie Kulke. Tananbaums endow curator position at Block Museum of Art Northwestern Now, 10 July 2017, retrieved 6 September 2019^
- Katya Kazakina, Chris Dolmetsch. Artist Jeff Koons and New York Gallery Accused of Inappropriate Practices in Suit Bloomberg News, 19 April 2018, retrieved 6 September 2019^
- Palash Ghosh. GoldenTree Asset Management brings on principal Pensions & Investments, July 10, 2023^
- Engagements; Lisa A. Munster, S. A. Tananbaum The New York Times, 30 August 1992, retrieved 2024-02-02^
- Steven Tananbaum Net Worth & Insider Trades Benzinga, September 2, 2021, retrieved 18 July 2023^
- The Top 200 Collectors - Lisa and Steve Tananbaum ArtNews Media, LLC, 2019, retrieved 6 September 2019^
- Patricia Hurtado. Wall Street Art Collector's Suit for 'Balloon Venus' Moves Ahead Bloomberg News, 30 August 2019, retrieved 6 September 2019^
- Priscilla DeGregory. Sculptor Jeff Koons settles $13M dispute with investor New York Post, January 31, 2020^