Hedge fund manager Steven A. Cohen and his wife, Alexandra M. Cohen, are donating $50 million to the hospital where Mrs. Cohen was born to build a state-of-the-art pediatric emergency center.
Originally called the Babies & Children’s Hospital, the facility later was renamed the Morgan Stanley Children’s Hospital of New York-Presbyterian. The hospital serves children “from some of the poorest and most underserved areas of New York City,” according to a news release. The new Manhattan facility will be named The Alexandra and Steven Cohen Pediatric Emergency Department.
“Steve and I are pleased to have this opportunity to make a meaningful difference for children and families in the community in which I was raised,” Mrs. Cohen said in a press release.
The gift was made through the Steven A. and Alexandra M. Cohen Foundation Inc., Stamford, Conn., which totaled $6.1 billion, according to the online Foundation Directory service of the Foundation Center, a non-profit organization based in New York. According to press reports, the Cohen foundation is a generous supporter of other health care-related entities in New York and Connecticut. Mr. Cohen is the founder and chief executive officer of SAC Capital Advisors LLC, Stamford, Conn., which manages about $15 billion in hedge funds for institutional and high-net worth clients. — Christine Williamson
