A New York hedge-fund manager broke a sales record in Orange County, California, when he and his wife paid $70 million for an oceanfront mansion in Laguna Beach. The Wall Street Journal reports that Joseph Edelman, the CEO and founder of the biotech hedge fund Perceptive Advisors, and his wife Susan Lebovitz-Edelman purchased the roughly 1-acre property located in a gated community of Abalone Point, which sits on a small peninsula that juts out into