Hedge Fund Manager Adam Sender has amassed quite a collection of contemporary art over the years. The Exis Capital Management CEO has $1,000 pieces worth an estimated $100 million. He owns works from Dan Flavin, Martin Kippenberger, Elizabeth Peyton, Charles Ray, and Rosemarie Trockel, to name a few. The “Home Along” exhibition, being held at Sender’s Miami Beach rental property, should fetch a hefty sum.
Sender, 45, graduated from the University of Michigan in 1992 and began working for SAC Capital Advisers LLC. He had a great deal of success after striking out on his own in 1998. With the same discerning eye for equity, Sender was able to buy works relatively on the cheap. According to the Artprice, Sender’s portfolio value has jumped some 39% since 2008.
Sender says he maintains success by choosing seasoned artists as opposed to ones who recently graduated from art school. He believes the artists works gain a bit more value after a few years. He recently added the works of emerging talents Diana Al-Hadid and Frank Benson to his collection.
Sothbey’s has been commissioned to sell some of Sender’s art pieces. A few of them are slated to fetch at least $3 million including a 1981 untitled piece by Cindy Sherman and neon work by Dan Flavin. Sothbey’s will have the works on display for 18 months and the entire collection is worth an estimated $70 million.
Now that Sender has sold his hedge fund company, he plans to concentrate solely on art. If the Home Alone exhibition is successful, Sender would like the pieces to find a permanent home in a private museum. As of right now, sender prefers to keep buying art and doing pop-up exhibitions. According to Sender, art collecting is a process that takes a lot of time. “It’s a lot different that trading and a lot more fun.”