The loan was first reported by Bloomberg.
Earlier this year, SAC returned billions of dollars to outside investors after a deal with the government forced the firm to stop operating as a hedge fund and managing money for clients.
Cohen transformed the business into a so-called family office that manages only his personal fortune, estimated at $9 billion. Last year, Cohen earned $2.4 billion, making him the second-best paid manager in the $2.7 trillion fund industry, according to Institutional Investors' Alpha's annual ranking of best paid managers.
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SAC has long been a lucrative client for Goldman Sachs, and the bank stood by Cohen during the insider trading probe. Cohen was never personally charged with any wrongdoing.
Art loans have become a popular way for wealthy art collectors who are also investors to borrow money at relatively low rates and then reinvest the money in their own funds to earn more in returns.
Cohen, a prominent art collector who bought Picasso's Le Reve for $155 million last year, has spoken publicly about how he enjoys touring galleries and browsing for art.