Valuable Artwork Damaged at Stamford Hedge Fund, Insurance Companies Seek Reimbursement

STAMFORD, CT — Two insurance companies are seeking reimbursement from a construction company after a fire destroyed artwork at investment firm Point72 Asset Management.

Point 72 manages the assets of hedge fund founder Steven Cohen. Cohen is one of the world's most prolific artwork collectors.

The fire occurred in November 2015 on the building's roof and there was some water damage to the building, according to the CT Law Tribune. The companies paid Cohen to repair and replace the artwork.

The lawsuit seeks at least $75,000 in damages from New-York based Infinity Mechanical. The suit alleges that welding and/or grinding cause the blaze.

Read the full Tribune report here.

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