The former CEO of the defunct and disgraced Galleon Group sold his condo in Surfside’s Fendi Château Residences.
Records show Gary Rosenbach sold unit 806 at 9349 Collins Avenue to LAC LLC, a Delaware entity. The hidden buyer listed a Park Avenue address in New York City.
Devin Kay of Douglas Elliman represented both the buyer and seller in the deal. He declined to comment.
Rosenbach was CEO of New York City-based hedge fund Galleon Group from 1997 until 2009. The firm, then one of the largest hedge funds in the world with $7 billion in assets under management, shut down that year in the wake of a historic insider trading scandal centered on Rosenbach’s co-founder, Raj Rajaratnam. Rajaratnam was convicted of fraud and conspiracy in 2011, and sentenced to 11 years in prison, the longest sentence ever handed down for insider trading, according to published reports.
Rosenbach was not implicated in the insider trading scheme. In the aftermath of Galleon’s scandal, he took up cutting, a western equestrian sport that involves separating cattle on horseback. In 2013, he and his horse, Scooters Daisy Dukes, won the National Cutting Horse Association Super Stakes Derby Amateur Championship, the New York Times reported.
Away from the rodeo, Rosenbach bought the Fendi Château condo for $6.9 million in 2020. Built in 2016, the unit spans 4,300 square feet, with three bedrooms, four bathrooms and one half-bathroom, records show. The condo also has staff quarters, the listing shows.
Château Group built the 12-story, 57-unit beachfront Fendi Château, which was designed by Arquitectonica and includes a theater, fitness center, spa and kids club.
Fendi Château is among Surfside’s most coveted luxury condos. In November, a Brazilian software boss sold his unit for $27.1 million, after buying it for $10.8 million in 2016. Another unit in the building sold for $19.8 million in June.
Football star Tom Brady rented a unit in the building following his split from supermodel Gisele Bündchen. It hit the market for $16 million last month.