Steven Tananbaum

Steven Tananbaum
Tananbaum in 2024
Born	1964 or 1965 (age 59–60)[1]
Nationality	American
Education	Vassar College
Occupation	Hedge fund manager
Known for	Founder and chief investment officer, GoldenTree Asset Management[2]
Spouse	Lisa A. Munster[3]

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][6] In 1992, Tananbaum married Lisa A. Munster.[6] They live in Palm Beach, Florida.[7] As of April 2023, Tananbaum had an estimated net worth of about $2.28 billion.[8]

Tananbaum is a member of the Council on Foreign Relations.^[citation needed]

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.[7]

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

1. Thomas, Helen (July 5, 2007). "The 20 Rising Hedge Fund Stars". No. Alphaville. Financial Times. Nikkei. Retrieved September 6, 2019.
2. Scigliuzzo, Davide (May 19, 2022). "GoldenTree Is Making Its Biggest Bet Yet on Private Credit With $1.5 Billion Fund". Bloomberg.
3. Kulke, Stephanie (July 10, 2017). "Tananbaums endow curator position at Block Museum of Art". Northwestern Now. Retrieved September 6, 2019.
4. Kazakina, Katya; Dolmetsch, Chris (April 19, 2018). "Artist Jeff Koons and New York Gallery Accused of Inappropriate Practices in Suit". Bloomberg News. Retrieved September 6, 2019.
5. Ghosh, Palash (July 10, 2023). "GoldenTree Asset Management brings on principal". Pensions & Investments.
6. "Engagements; Lisa A. Munster, S. A. Tananbaum". The New York Times. August 30, 1992. p. 13. Retrieved February 2, 2024.
7. "The Top 200 Collectors - Lisa and Steve Tananbaum". ArtNews Media, LLC. 2019. Retrieved September 6, 2019.
8. "Steven Tananbaum Net Worth & Insider Trades". Benzinga. September 2, 2021. Archived from the original on April 21, 2023. Retrieved July 18, 2023.
9. Hurtado, Patricia (August 30, 2019). "Wall Street Art Collector's Suit for 'Balloon Venus' Moves Ahead". Bloomberg News. Retrieved September 6, 2019.
10. DeGregory, Priscilla (January 31, 2020). "Sculptor Jeff Koons settles $13M dispute with investor". New York Post.