Washington – Tudor Investment Corp. has become the first hedge fund to create a political-action committee, or PAC, in the latest sign of the industry’s coming of age here.
The move comes as the rapidly expanding, lightly regulated sector faces increasing scrutiny from policy makers. At the same time, hedge-fund executives are being besieged by presidential and congressional campaigns seeking a share of a growing wealth pool that is being tapped. (For related hedge-fund news, see article.)
With $16.1 billion in assets under management, Tudor is the ninth-largest hedge fund, according to Institutional Investor, an industry trade publication. Fund officials declined to talk publicly about the new “Tudor Investment Corporation PAC For Responsible Government,” which filed papers with the Federal Election Commission last month. But one executive, who spoke on condition of anonymity, said the committee was formed in part to help executives deflect the surge in fund-raising requests.
