Steven Tananbaum
{{Short description|American hedge fund manager}}
{{Use mdy dates|date=July 2023}}
{{Infobox person
| name = Steven Tananbaum
| image = Steven Andrew Tananbaum (born c. 1965) at World Economic Forum Davos 2024.png
| caption = Tananbaum in 2024
| birth_date = {{birth based on age as of date |42|2007|07|05}}{{cite news |last1=Thomas|first1=Helen|title=The 20 Rising Hedge Fund Stars|url=https://ftalphaville.ft.com/2007/07/05/5688/the-20-rising-hedge-fund-stars/ |accessdate=6 September 2019|agency=Nikkei|issue=Alphaville|publisher=Financial Times|date=5 July 2007|language=English|url-access=subscription }}
| birth_place =
| death_date =
| death_place =
| nationality = American
| education = Vassar College
| occupation = Hedge fund manager
| known for = Founder and chief investment officer, GoldenTree Asset Management{{Cite web|last=Scigliuzzo|first=Davide|title=GoldenTree Is Making Its Biggest Bet Yet on Private Credit With $1.5 Billion Fund|url=https://www.bloomberg.com/news/articles/2022-05-19/goldentree-eyes-1-5-billion-for-debut-private-credit-fund|date=May 19, 2022|website=Bloomberg}}
| term =
| predecessor =
| successor =
| boards =
| partner =
| children =
| parents =
| relatives =
| website =
}}
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."{{cite news |last1=Kazakina |first1=Katya|last2=Dolmetsch |first2=Chris |title=Artist Jeff Koons and New York Gallery Accused of Inappropriate Practices in Suit |url=https://www.bloomberg.com/news/articles/2018-04-19/n-y-gallery-artist-accused-of-inappropriate-practices-in-suit |accessdate=6 September 2019 |publisher=Bloomberg News|date=19 April 2018}}
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).{{Cite web| last=Ghosh |first=Palash |title=GoldenTree Asset Management brings on principal |url=https://www.pionline.com/money-management/goldentree-asset-management-brings-chad-plotke-principal |date=July 10, 2023|website=Pensions & Investments}}
Personal life
Tananbaum is a Vassar College graduate. In 1992, Tananbaum married Lisa A. Munster.{{cite news|title=Engagements; Lisa A. Munster, S. A. Tananbaum|url=https://www.nytimes.com/1992/08/30/style/engagements-lisa-a-munster-s-a-tananbaum.html|accessdate=2024-02-02 |page=13|newspaper=The New York Times|date=30 August 1992|language=English}} They live in Palm Beach, Florida. As of April 2023, Tananbaum had an estimated net worth of about $2.28 billion.{{cite web |title=Steven Tananbaum Net Worth & Insider Trades |url=https://www.benzinga.com/sec/insider-trades/thry/steven-tananbaum |website=Benzinga |access-date=18 July 2023 |archive-url=https://web.archive.org/web/20230421054111/https://www.benzinga.com/sec/insider-trades/thry/steven-tananbaum |archive-date=Apr 21, 2023 |date=September 2, 2021 |url-status=live}}
Tananbaum is a member of the Council on Foreign Relations.{{citation needed|date=February 2024}}
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.{{cite web|title=The Top 200 Collectors - Lisa and Steve Tananbaum|url=http://www.artnews.com/top200/lisa-and-steve-tananbaum/ |accessdate=6 September 2019 |publisher=ArtNews Media, LLC|date=2019}}
=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.{{cite news |last1=Hurtado|first1=Patricia |title=Wall Street Art Collector's Suit for 'Balloon Venus' Moves Ahead |url=https://www.bloomberg.com/news/articles/2019-08-30/wall-street-art-collector-s-suit-for-balloon-venus-moves-ahead |accessdate=6 September 2019 |publisher=Bloomberg News|date=30 August 2019}} In January 2020, an agreement was filed in Manhattan Supreme Court and the case was settled; terms were undisclosed.{{Cite web |last=DeGregory |first=Priscilla |title=Sculptor Jeff Koons settles $13M dispute with investor |url=https://nypost.com/2020/01/31/sculptor-jeff-koons-settles-13m-dispute-with-investor/|date=January 31, 2020|website=New York Post}}
Philanthropy
In 2017, the Tananbaums gave $1 million to endow a curatorial position at the Block Museum of Art at Northwestern University.
References
{{Reflist}}
{{DEFAULTSORT:Tananbaum, Steven}}
Category:American hedge fund managers
Category:American company founders
Category:Vassar College alumni
Category:People from Palm Beach, Florida
Category:Chief investment officers
Category:American billionaires
{{US-business-bio-1960s-stub}}