HedgeCo.net – New York, July 30, 2007 – Assets in the Absolute Return Top 25 U.S. Hedge Fund Foundations have ballooned to $3.52 billion, according to an analysis of recent tax filings by Absolute Return magazine. That’s a 76.8% increase over the $1.99 billion these largest hedge fund foundations held in the prior year.
Over the same period, total contributions to the 25 largest foundations increased 190%, to $865 million, giving hedge fund managers more clout in the philanthropic scene.
The largest hedge fund foundations – meaning philanthropies formed by current or retired hedge fund managers – were founded by the industry’s elder statesmen. The biggest foundation is George Soros’s Open Society Institute, which has assets of $858.9 million. Julian Robertson’s Robertson Foundation takes second, with $659 million.
The largest philanthropic organization with multiple donors is The Robin Hood Foundation, with $215.3 million.
The data reflect totals for a foundation’s most recent filing with the Internal Revenue Service.
The entire list of Top 25 U.S. Hedge Fund Foundations, along with each foundation’s total annual giving, appears in the July/ August issue of Absolute Return.
Top Five U.S. Hedge Fund Foundations (Single Donor)
1 George Soros Soros Fund Management Open Society Institute Total assets $858.9M Gifts received $377.4M Total giving $78.4M
2 Julian Robertson Tiger Management Robertson Foundation Total assets $659.0M Gifts received $31.3M Total giving $21.9M
3 Jim Simons Renaissance Technologies The Simons Foundation Total assets $324.8M Gifts received $56.8M Total giving $17.1M
4 Robert W. Wilson Retired hedge fund manager The Robert W. Wilson Charitable Trust Total assets $166.8M Gifts received $54.9M Total giving $52.4M
5 Boone Pickens BP Capital Management T. Boone Pickens Foundation Total assets $135.0M Gifts received $135.0M
TOP U.S. HEDGE FUND FOUNDATION (MULTIPLE DONORS)
Paul Tudor Jones The Robin Hood Foundation Total assets $215.4M Gifts received $106.4M Total giving $64.4M
Source: Absolute Return, Foundation Center Data reflect totals for a foundation’s most recent filing with the Internal Revenue Service, which could include yearend data for its 2004, 2005 or 2006 fiscal year.
About Absolute Return
Absolute Return is the leading source of U.S. hedge fund news and information, featuring proprietary data and analysis on over 1,600 U.S. single-manager hedge funds. Absolute Return, a monthly magazine, and the Absolute Return Directory and Database are divisions of HF Intelligence, a global provider of hedge fund news and data. For more information, please visit www.hedgefundintelligence.com/ar
Brendan F. McManus
Assistant Account Executive
Global Capital Practice Group
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