Each business day HedgeCo.Net keeps you informed with the top hedge fund industry news, opinion and insight from around the globe. From the latest hedge fund launches, to the impact of regulation, competition, and investor activism - we track the topics and people that make a difference to you.
New York (HedgeCo.net) – Youth, I.N.C. (Improving Nonprofits for Children) announced that Piper Jaffray, a leading global middle market investment bank and institutional securities firm, will sponsor Trading Day for Kids for a third consecutive year. Youth, I.N.C. has strong connections to Wall Street, and its Board of Directors includes a number of leaders in the private equity and hedge fund community who dedicate their time to this cause.
“Trading Day for Kids embodies Youth, I.N.C.’s mission of linking talent and resources from the for-profit sector with promising nonprofits.” said Steve Orr, Executive Director and Founder of Youth, I.N.C.
Now in its sixth year, Trading Day for Kids has engaged more than 390 institutional investors and raised nearly $6.5 million for Youth, I.N.C.’s capacity-building programs. Institutional investors can support Trading Day for Kids by directing all equity trading activities on October 20 to Piper Jaffray and designating “Youth, I.N.C.” as the beneficiary of trading commissions.
“Trading Day for Kids allows the corporate community to give back to promising charities looking to build their capacity and serve more youth. We are proud to be able to continue our relationship with Youth, I.N.C,” said Thomas Schnettler, President and Chief Operating Officer of Piper Jaffray. “We believe that Youth, I.N.C. is a tremendously effective organization that is vital to helping these small organizations achieve long-term sustainability, and we encourage the financial community to support this cause.”
In conjunction with Trading Day, Piper Jaffray will host a “Mentor Day” on October 18. Thirty high school students representing three of Youth, I.N.C.’s partner organizations, including CampInteractive, FIVER Children’s Foundation, and Trail Blazers, will spend the day at the firm.
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New York (Hedgeco.net) - Grammy winning Haitian-American rapper, actor, film producer and activist, and a member of hip hop trio The Fugees, Prakazrel Samuel Michel, better known as Pras, will perform at children’s charity A Leg To Stand On’s annual fundraiser, Hedge Fund Rocktoberfest, on October 13 at 583 Park Avenue in New York City.
Pras first became aware of ALTSO’s work through his interest in Haiti. ALTSO was already working in Haiti prior to the earthquake in January 2010, but in the wake of the disaster and in response to the obvious need, it further ramped up its efforts. Pras will be performing at this year’s Hedge Fund Rocktoberfest.
Including Haiti ALTSO currently has 19 programs in 15 countries across Asia, Africa and Latin America. “We are truly honored that Pras is willing to use his time and talent to get involved with ALTSO,” says ALTSO’s co-founder, hedge fund manager C. Mead Welles. “The magnitude of what we can achieve in terms of truly transforming these children’s lives through simple surgical procedures and the providing of prosthetics is just incredible. Pras sees that and we are delighted he wants to be a part of it.”
New York (HedgeCo.net) – Hedge fund brokerage company BGC Partners, Inc., together with capital markets investment bank Cantor Fitzgerald, have raised approximately $12 million globally at their Annual Charity Day on Monday, September 12, 2011.
Guests included former Presidents George W. Bush Bill Clinton in New York and Prince Harry in London. Prince Harry closed a record-breaking trade for 18 billion euros ($24.5 billion) as part of a charity fundraising event.
“Charity Day is always a moving experience, and this year’s has been especially poignant as we have reached the ten year anniversary of 9/11,” said Howard W. Lutnick, Chairman and Chief Executive Officer of BGC Partners. “We are proud to honor our cherished friends and colleagues through aid and support to great causes. It is through generosity and philanthropy that we turn this tragic day into one that is positive and uplifting. I’d like to thank our clients, employees and everyone who joined us in honoring our 658 employees who perished on 9/11 by helping charities around the world.”
At BGC’s New York offices, other guests included: Former New York Governor David Paterson, actors Ben Stiller, Billy Crudup, Daniel Radcliff and Jon Voight, supermodels Petra Nemcova, Carol Alt and Karolina Kurkova, and sports icons Carmelo Anthony, Henrik Lundqvist, Ike Davis, John McEnroe, Eli Manning, Mark Sanchez and Rex Ryan. The Office at Cantor Fitzgerald was joined by former New York City Mayor Rudy Giuliani, actors Mickey Rourke and Michael J. Fox, TV personality Kim Kardashian, supermodel Kate Upton, and sports personality Chris Bosh.
In London, celebrity guests at BGC’s offices included: The Mayor of London Boris Johnson, Princesses Eugenie and Beatrice, TV and radio personality Sir Terry Wogan, model Eva Herzigova as well as renown chef Marcus Wareing and the legendary Rolling Stone Ronnie Wood. Other singing sensations included Duffy, Peter Andre, Sophie Ellis-Bextor and One Direction. Sports icons included Jamie and Harry Redknapp, Damon Hill, A. P. McCoy and Lawrence Dallaglio.
Every year, BGC and Cantor Fitzgerald donate 100% of their global revenues on the day to more than 75 charities around the world by hosting charities and celebrity ambassadors at their offices in commemoration of the 658 employees we lost in the World Trade Center attacks. The guests joined licensed brokers to conduct transactions with BGC and Cantor Fitzgerald clients. Including today, Charity Day has raised approximately $77 million globally.
New York (HedgeCo.net) – A group of three hedge fund managers, Paul E. Singer, a “top-tier Republican donor,” Steven A. Cohen and Clifford S. Asness have decided to back, financially and otherwise, the establishment of same-sex marriage in the state of New York, the New York Times reported.
Some comments in the Times include:
- “An unexpected source: a group of conservative financiers and wealthy donors to the Republican Party, most of whom are known for bankrolling right-leaning candidates and causes.” The Times reported.
- “I’m a pretty straight-down-the-line small-government guy,” Asness, a self-described libertarian, told the New York paper. “This is an issue of basic freedom,” he said.
- “We believe in social justice for all Americans,” said Cohen, who runs SAC Capital Advisers and is a frequent fundraiser for Republicans.
- “I think it is important in particular for Republicans to know this is a bipartisan issue,” said hedge fund manager Daniel Loeb, who has donated hundreds of thousands of dollars to the cause. “If they’re Republican, they will not be abandoned by the party for supporting this. On the contrary, I think they will find that there is a whole new world of people who will support them on an ongoing basis if they support this cause.”
- “The involvement of Mr. Singer is the most striking,” the Times reported, “given his devotion to conservative candidates and philanthropy: He is chairman of the Manhattan Institute, a right-leaning research group, and one of the most generous Republican donors in the country. But he also has a personal stake in the issue: he has a gay son who married his partner in Massachusetts, where same-sex marriage is legal.”
New York Mayor Michael Bloomberg, a billionaire businessman and philanthropist, is also planning a fundraiser for the cause at his Upper East Side town house and will be giving $100,000 of his own money, as well as lobbying lawmakers at the state capital and giving a speech on the issue.
The donations from the Republican donors total about two-thirds of the same-sex marriage coalition’s fund raising. On Sunday, supporters and opponents of same-sex marriage held competing rallies in Manhattan and the Bronx, the New American reported.
New York (HedgeCo.net) – The emergence of upscale table-tennis clubs is spawning a ping pong renaissance, according to a Bloomberg editorial. Last month, SPiN New York hosted the “Clash Of The Hedge Fund Titans” ping pong tournament, in which hedge fund managers competed against one another for the #1 spot.
Susan Sarandon’s chichi table tennis franchise has locations in New York, Milwaukee, and Toronto. Warren Buffett lost 2-1 to 15-year-old U.S. champ Ariel Hsing last year, and French President Nicolas Sarkozy has also joined in on the action, according to Bloomberg.
The hedge fund “Clash” was a philanthropic event benefiting Big Brothers Big Sisters of NYC, The Michael J. Fox Foundation For Parkinson’s Research, and Robin Hood that fights poverty in NYC. The event was sponsored by Toro Trading, MiK Fund Solutions, Novus, Knight, John Allan’s, Direxion Shares, Classic Car Club, and SPiN New York.
The Sporting Goods Manufacturers Association (SGMA) estimates there are 19.5 million recreational players in the U.S., a 53% increase over the past decade, Bloomberg reports. A 2009 poll by SGMA shows that more than half the players have annual incomes exceeding $75,000. As a result, the sport is going corporate.
In a move to forge unexpected connections, a New York-based charity tournament, Top Spin, is planning events in Los Angeles, San Francisco and Chicago, aiming to attract 2,000 players, even promising Olympian walk ons.
“It’s like a real-life version of LinkedIn,” says founder Peter Farnsworth, in the Bloomberg article. “We’re bringing the business community together through ping pong.”
New York (HedgeCo.net) – 100 Women in Hedge Funds (100WHF), has named Blackstone Group co-founder, Peter G. Peterson as the recipient of its 2011 Effecting Change Award to be presented at the annual New York Gala to be held at Cipriani 42nd Street on November 16, 2011.
Peterson, who is also Chairman Emeritus and Founder of the Peter G. Peterson Foundation, will be presented this award in recognition of his work as an active philanthropist. He has pledged $1 billion to his Foundation, which works to increase public awareness of the nature and urgency of key long-term fiscal challenges threatening America’s future and to accelerate action on them.
Past U.S. Effecting Change honorees include Hillary Rodham Clinton, George Soros , Ray Chambers, Gary Cohn, Carl Icahn, Julian Robertson, Robert Rubin, Governor Jon Corzine, Jessica Palmer, Ken Langone, Joel Klein and T. Boone Pickens.
New York (HedgeCo.net) – The players, coaches and cheerleaders of the San Francisco 49’ers will make a special appearance at the 10th Annual San Francisco “Open Your Heart to the Children” Benefit organized by Hedge Funds Care and the San Francisco 49’ers Foundation.
More than 450 hedge fund managers and investors are expected to attend the event which will feature a wine-tasting of wines from some of California’s finest wineries, including Kosta Browne, Blackbird, Grigich Hills, Bennett Lane, Brix26, Crocker & Starr, Freeman, Hope & Grace, Kristine Ashe, Lail Vineyards, Papapietro Perry, Signorello Estate, Skipstone, and William Cole.
Proceeds will be used by Hedge Funds Care to support child abuse prevention and treatment programs in the San Francisco Bay area. The event will be held on April 13th at 4:30pm PST at The Bentley Reserve (301 Battery Street San Francisco, CA).
“Child abuse remains a pervasive issue and support services for abused children are still greatly underfunded. The Hedge Funds Care benefit allows hedge funds and alternative investment industry service providers to support those children in need of assistance” said Todd Goldman, Principal at Rothstein Kass and one of the Co-chairs for this year’s benefit.
“The hedge fund industry is one of the most philanthropic groups out there. The generosity they have shown year after year to our organization has been astounding. We are expecting this year’s Hedge Funds Care Gala to be one of our most successful in raising money to help kids in the Bay Area,” added Elisabeth MacKnight, Director, Business Development at The Conifer Group LLC. Ms. MacKnight is also a Co-chair for this year’s San Francisco benefit.
A limited number of tickets and sponsorships are still available. For more information, please click here.
Hedge Funds Care is an international charity supported largely by the hedge fund industry. Since inception, Hedge Funds Care has awarded more than 660 grants totaling more than $24 million.
New York (HedgeCo.net) – Over 200 guests attended the 2011 HedgeCo Spring Networking Event on the evening of the 22nd. Celebrating the end of winter, there was food, drink and networking with other members of the alternative investment community.
“I enjoyed everything about the HedgeCo spring networking event.” Craig S. Aronoff, Managing Member at Victor Securities said, “You chose the perfect location, and had a very impressive turn out! The attendee list had a perfect mix of funds, allocators and service providers.”
A mix of investors, hedge fund managers, and other industry professionals came together at the Aspen Social Club in New York to enjoy a night of sharing ideas and meeting new contacts.
Recognized as having the largest attendance for any type of event in the hedge fund industry, the HedgeCo Networking Events have quickly become the top destination for generating new business and meeting new industry contacts.
The HedgeCo Spring Networking Event event was sponsored by American Airlines.
New York (HedgeCo.net) – Hedge fund giant Man Group has made an immediate $1 million commitment via its Charitable Trust to relief efforts in Japan.
“We have all witnessed through TV coverage the scenes of devastation in Japan after the earthquake and tsunami.” Peter Clarke, Chief Executive of Man, said, “It is hard to imagine how this feels to those affected. Our long established and close relationship with Japan means that we are naturally very anxious to play our part in joining with local and international efforts to alleviate the huge suffering that has been caused.”
In a response coordinated with its Tokyo office, the hedge fund will focus this charitable donation on children impacted by the crisis and has pledged $900,000 to Save the Children’s Japan Emergency Appeal and $100,000 to local children’s charities.
“We are extremely fortunate that all of our employees and their families are safe but we are acutely aware that hundreds of thousands of people have been left devastated by last week’s events.” Hidehiko Hayashi, Head of Man’s Regional Office in Japan, said, “We will continue to ensure that we are doing all we can to provide support and assistance to Japan as the nation works together to address this massive natural disaster.”
New York (HedgeCo.net) – Hedge Funds Care announced that hedge fund industry participants donated nearly $2 million at the charity’s 13th Annual Hedge Funds Care New York Open Your Heart to the Children Benefit.
The gala, which drew together approximately 1200 leaders in finance, has quickly become the alternative investment industry’s signature charity gala and is also the largest event that Hedge Funds Care holds anywhere in the world. Hedge fund managers and industry participants who attended partook in an elegant cocktail reception, an exclusive single malt scotch tasting and saw the Hedge Funds Care Award for Caring presented to Anthony Scaramucci, Managing Partner of SkyBridge Capital, for his many philanthropic endeavors. During the 5 o’clock hour today Mr. Scaramucci will appear on CNBC’s Fast Money to discuss Hedge Funds Care and his selection as the honoree.
“Last year, in 2010, Hedge Funds Care made a difference in the lives of 37,560 people. In 2011, thanks to the incredible generosity of my colleagues in the alternative investment industry, we will be able to make an even more substantial impact,” said John Budzyna, Chairman of Hedge Funds Care.
“Child abuse is a hidden problem, something that few are willing to address,” added Kathryn Conroy, Executive Director of Hedge Funds Care. “Because of the incredible philanthropy of the hedge fund industry, Hedge Funds Care can provide grants to organizations which prevent child abuse from happening in the first place, and help the children who have been affected to heal.”
Funds from this year’s event will go to for child abuse programs in New York, New Jersey and Connecticut. Aside from the NY Gala, funds for Hedge Funds Care are raised through events in more than 12 cities in the US, the UK, Canada, and Cayman Islands, and granted to community organizations addressing this issue. Hedge Funds Care is the only grant making public charity that focuses exclusively on funding this cause.
About Hedge Funds Care
Hedge Funds Care is an international charity supported largely by the alternative investment industry. Its sole mission is to support efforts to prevent and treat child abuse. Hedge Funds Care raises money, primarily through events, and awards grants in 12 major cities in the United States, Canada, the Cayman Islands, and the United Kingdom. Approximately 30 events are held annually. Hedge Funds Care’s grantees service children of all ages and span the entire spectrum from preventive and educational services for at-risk families to forensic interviews and treatment of children who have already experienced abuse. We generally fund small, community-based organizations, where small grants can have a profound impact. Since inception, Hedge Funds Care has awarded more than 660 grants totaling more than $24 million. Hedge Funds Care is largely a volunteer-driven organization, with professionals from the hedge fund industry serving on the Board and on local committees that plan events and evaluate grant proposals. The organization has a small staff based in New York City.
Editing by Alex Akesson
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New York (HedgeCo.net) – Over 100 leaders from the Wall Street community are planning to join New York Knicks legends, corporate sponsors, and high school students for an exciting charity basketball tournament hosted by Youth, I.N.C. (Improving Nonprofits for Children).
The Net Gain Tournament kicks off with the highly anticipated “Hedge Fund vs. Private Equity All-Star Game,” followed by a 20-team, full court round-robin tournament on Thursday, March 10, 2011; 5:00 – 10:00 PM; Tip-off at 5:30pm at New York University, Coles Sports Center – 181 Mercer Street, New York, NY 10012.
Celebrity Appearances by Knicks Alumni: Mel Davis, Cal Ramsey, Charles Smith, John Starks and John Wallace. Veteran correspondent Tim Minton will serve as emcee.
The annual hoops tournament has raised more than $4 million for Youth, I.N.C. which helps New York City’s most promising, youth-serving nonprofits deliver opportunities to the city’s most deserving children.
Through a long-standing partnership with Urban Dove and Basketball City, Youth, I.N.C. also funds the Net Gain Program which will provide court time for 17 high schools and 400 New York City students without a home court to play this year.
The Net Gain Tournament has enabled 1,300 corporate executives to impact the lives of over 4,000 at-risk youth. The Program provides high school students with the opportunity to build and develop their leadership, teamwork, and communication skills through varsity sports. Since inception, Youth, I.N.C. has raised $37 million for youth, empowered over 88 nonprofits, and impacted the lives of nearly 600,000 youth.
New York (HedgeCo.net) – Hedge Funds Care is holding it’s 2nd South Florida Benefit for Hedge Funds Care on Dec. 2nd, 2010, the first night of Art Basel, Miami Beach.
“The first annual South Florida Benefit was one of the most popular events of last year’s Art Basel, drawing nearly 300 members of the hedge fund industry from both the Northeast and South Florida,” event Co-chair Greg Levy of Kaufman, Rossin & Co, said.
“Not only does this elegant, sea side cocktail reception qualify for the party of the season, but the funds we raise directly help Hedge Funds Care in its mission of preventing and treating child abuse and neglect,” event Co-Founder Mitch Ackles of Hedge Fund PR, added.
The cocktail reception features live music, gourmet cuisine by prominent local chefs, and spirits. It will be held from 7:00pm to 10:00pm at the iconic art deco gem, the Raleigh Hotel, which is located at 1775 Collins Avenue, Miami Beach, FL.
Editing by Alex Akesson
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