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Steve Cohen-Led Group Buys Sports Card And Memorabilia Company Collector’s Universe

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Steve Cohen-Led Group Buys Sports Card And Memorabilia Company Collector's Universe Tyler Durden Fri, 12/04/2020 - 18:00 Apparently, Steve Cohen is on a sports kick. As if buying the New York Mets - and then purging the organization's entire front office, as we noted weeks ago - wasn't enough, Steve Cohen is now buying collectibles-grading company ...

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Steve Cohen-Led Group Buys Sports Card And Memorabilia Company Collector's Universe Tyler Durden Fri, 12/04/2020 - 18:00

Apparently, Steve Cohen is on a sports kick.

As if buying the New York Mets - and then purging the organization's entire front office, as we noted weeks ago - wasn't enough, Steve Cohen is now buying collectibles-grading company Collectors Universe.

The company provides "authentication and grading services to buyers and sellers of memorabilia, including sports cards, coins and vintage autographs."

The $700 million deal to take the company private is being done in conjunction with Dan Sundheim’s D1 Capital Partners and sports card collector Nat Turner, according to Bloomberg.

Steve Cohen-Led Group Buys Sports Card And Memorabilia Company Collector's Universe

Cohen is undertaking the transaction using "Cohen Private Ventures", which is a vehicle for investing his personal capital (as opposed to that of Point72). 

Shares of the company had been up more than 300% this year already, with the nation's lockdown orders allowing hobbyists and collectors to spend more time on their respective collections. 

Turner said on Monday: “Collecting sports cards and connecting with like-minded hobbyists has been a lifelong passion. [We] are committed to bringing the resources and expertise necessary to expand the company’s operational capacity and technological capabilities.”

The deal is a cash offer and is expected to close in the first quarter of 2021. 

Tyler Durden
Tyler Durden (a pseudonym) represents the idea that a return to truly efficient markets is a possibility and a necessity. After having experienced the inner workings of capitalism at various asset managers and advisors, Tyler believes that the current model is flawed and a deleveraging at every level of modern society is needed to reinspire the fundamental entrepreneurial spirit. Visit his blog: ZeroHedge (http://www.zerohedge.com/)

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