Adam Sender is a successful hedge fund manager and the owner and founder of Exis Capital Management. However, Sender is also a renowned collector of art.
Sender is part of a new breed of art collectors, dominated by hedge-fund managers that have bought some of the priciest pieces of art in the world.
Sender, at the young age of 39, is best known for his art collection, which exceeds 800 pieces and which he values at roughly $100 million. Much of the collection is modern and controversial, including the famous piece of work by Andres Serrano picturing a crucifix submerged in urine.
Works by Richard Prince and Mike Kelley also feature prominently in the collection. Mr. Sender was featured on ArtNews’ list of top 200 art collectors in 2008. Having suffered losses on a volatile market, Sender recently sold 40 pieces of art to recoup the $25 million he’d spent on art in the last ten years.
This isn’t just a hobby to Adam Sender, it is a market. Mr. Sender plays the art market with even more skill than he utilizes in the stock market.
At the hedge-fund’s peak in January of 2004, Exis Capital Management managed about $1.1 billion, but employed only 10 people.
Sender got his start trading stocks in 1989 at the University of Michigan. By 1998, Sender was making tens of millions of dollars per year and had started his own firm. With no place to reinvest his funds, he found a perfect outlet—his love for art.
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