CNBC- When it comes to charitable giving, who gives more–hedge funds or private equity?
Turns out the private equity folks are the cheapskates.
When you look at the 50 most generous family foundations last year funded by Wall Street money, the hands down winners are hedge funds–by a four to one margin when you compare them to private equity.
Portfolio Magazine dug through the latest IRS filings of all the family foundations started by Wall Street money.
Of the 50 most generous foundations–not necessarily the largest, but those that gave out the most money–24 were from hedge funds, a mere six from private equity, 13 from investment banks, and only three from mutual funds.
