Benjamin D. Slate, a health-care analyst and portfolio manager who worked for billionaire Steven A. Cohens SAC Capital Advisors LP, has died, according to a paid notice in the New York Times. He was 39.
Slate, a 1999 graduate of the University of Pennsylvania, began his career at George Weiss Associates and also worked at Tourbillion Capital and his own fund, Ardoise Capital, as an analyst and portfolio manager after his time at SAC, according to the notice. It stated that he died on Sept. 7 and didnt give a cause of death. A phone message left with the funeral home handling arrangements for the family wasnt returned.
With his keen insight into public company performance, he turned complex markets into simple but uncannily accurate trading strategies, the death notice stated.
SAC Capital pleaded guilty in 2013 to insider trading charges brought by the Securities and Exchange Commission and paid $1.8 billion in fines. Cohen, who was charged by the SEC with failing to prevent the illegal trading, settled the civil charges against him this year and agreed to be barred from managing the money of outside investors until 2018.
The Times reported in 2014 that Slate was one of several health-care analysts deposed by federal authorities as they built a criminal case against SAC portfolio manager Mathew Martoma, who was convicted of insider trading and began serving a nine-year prison term in 2014.
Slate, who resided in Larchmont, New York, is survived by his wife and son, according to the death notice.
Read more: www.bloomberg.com