As a successful hedge fund manager, and the founder of Exis Capital Management, Adam Sender has developed a keen eye for the finer things in life. In addition to being a highly successful hedge fund manager, Sender is also a renowned art collector. Sender is part of a new breed of collectors, predominantly hedge-fund managers that have bought some of the most famous pieces of art in the world.
At the young age of 39, Adam Sender is better known for his art collection than for his hedge fund. The collection exceeds 800 pieces and is highly valued—at roughly $100 million. The collection is made up, almost entirely, of contemporary art. The collection also slants towards the controversial and offensive, including the famous piece of work by Andres Serrano picturing a crucifix submerged in urine. The art of Richard Prince is also feature prominently in the collection, with about two dozen pieces. Sender was featured on ArtNews’ top 200 art collectors of 2008.
In order to recoup the $25 million he’d spent on art in the last ten years Sender recently sold 40 pieces of art, not a bad turn around profit. Mr. Sender plays the art market with a keen eye and a set of rules. Just like the stock market, Sender is keenly aware that he could lose money, but also that there are great profits to be made. This is more than just a hobby for Adam Sender; it is a new area of the industry that he has not conquered yet.
At the peak of his hedge fund in January of 2004, his company managed about $1.1 billion, while employing only 10 people. Sender got his start trading stocks at the University of Michigan in 1989. By 1998, Sender was making tens of millions of dollars per year and had started his own firm—Exis Capital Management. Looking for a new place to reinvest his funds, Sender found his creative outlet.