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.
Bloomberg – The annual Hedge Funds Care benefit – - backed by Kenneth Tropin and Michael Vranos — will downsize from a black-tie dinner to a cocktail party tomorrow night in New York.
The nonprofit, which aids child-abuse prevention programs, is hoping a laidback atmosphere will encourage some donors to write bigger checks — and allow jobless hedge-fund managers to network while eating mini-hot dogs and shrimp instead of filet mignon.
“A formal, sit-down dinner wouldn’t have been the most appropriate thing to do when times are so bad,” Kathryn Conroy, the organization’s executive director, said in a telephone interview.
Daily Monitor – Wall Street may be bruised and battered, but it still donated more money than any other U.S. industry to President-elect Barack Obama’s inaugural festivities on Tuesday, a study has found.
The Center for Responsive Politics said executives of finance, insurance and real estate companies and their family members gave $7.1 million to Obama’s inaugural committee.
Top donors from the world of high finance included George Soros, Ronald Perelman and David Shaw, the center said.
MSNBC – Nonprofits that are struggling because their donors lost money with Bernard Madoff are getting a bailout — but not from the government. Richer foundations are stepping in to help.
Human Rights Watch, The Center for Constitutional Rights and others are already slated to receive more than $1 million in help from philanthropies and donors who share their interests.
MSN UK News – Business leaders around the world back greater regulation in response to the global financial crisis, a survey showed on Wednesday, with support strongest for curbs on credit rating firms, hedge funds and structured finance.
Responses from more than 700 chief executives, chairmen, partners and directors across Asia, Europe and the United States were received between November 4th and 6th.
The survey, conducted by international law firm Allen & Overy, was timed ahead of this weekend’s Washington DC summit on the deepening crisis between the leaders of the Group of 20 leading world economies.
More than three-quarters of those polled agreed that more regulation of credit rating agencies was necessary, while two thirds supported greater regulation of hedge funds.
