New York (HedgeCo.net) – Over 150 executives from the Wall Street community will join New York Knicks legends, corporate sponsors, and high school students for a charity basketball tournament hosted by Youth, I.N.C. (Improving Nonprofits for Children) Wednesday, March 7th; 5:00 – 10:00 PM (Tip-off at 5:30 PM).

Kicking-off with the “Hedge Fund vs. Private Equity All-Star Game”, this year’s Net Gain Basketball Tournament will take place at the New York University Coles Sports Center. It will feature 24 corporate teams matched with high school athletes, in a full court, round-robin basketball tournament.

Corporate sponsors include Alvarez & Marsal, Clayton Dubilier & Rice, Debevoise & Plimpton LLP, Dewey & LeBouef LLP, Oak Hill Capital Partners, One Equity Partners, PwC, Wells Fargo, and others.

Since 1998, over 2,000 corporate executives and more than 4,000 NYC youth have teamed up and hit the courts for the annual tournament. The event raises funds for Youth, I.N.C. and promotes athletic participation to develop the student’s leadership, teamwork, and communication skills.

Since inception, Youth, I.N.C. has raised $40 million, empowered 100 nonprofits, and impacted the lives of nearly 600,000 youth.

Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
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MBL.com: LOS ANGELES — A bankruptcy judge on Tuesday granted interim approval of $150 million of hedge fund financing arranged by Dodgers owner Frank McCourt so the team can cover this week’s player payroll and all financial obligations through the year.

A hearing is scheduled for July 20 to determine whether Major League Baseball’s alternative loan offer should be approved instead.

Earlier in the day, MLB filed an objection with the Delaware court handling the Chapter 11 bankruptcy, which was filed on Monday, stating that MLB opposed the $150 million of debtor-in-possession financing that the financially imperiled club seeks to get through this period. Instead, attorneys for MLB told a bankruptcy judge hearing the case in Delaware that MLB is willing to provide through its own banks the financing for McCourt at much better terms than McCourt is seeking from a J.P. Morgan hedge fund.

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