Hedge Funds Who are the Biggest NY Political Donors

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Hedge Funds Who are the Biggest NY Political Donors

Hedge fund Managers gave $23.4 million dollars to state and local politicians from the start of 2005 throughout this year February.

1.James Simons  Renaissance Technologies  $4,198,377.69

This is a quantitative hedge fund has over $15 billion in assets under management and earned net returns as high as 33 percent last year. Founded in 1982 by James Simons.  More

2.Paul Singer  Elliot Management: $2,000,285.00

This hedge fund focuses in distressed debt investments. Founded in 1977 by Paul Singer. Elliot Management is one of the oldest continuously managed funds. Singer, worth roughly $1 billion, has recently criticized both Wall Street bonus structures and Federal Reserve policy. He supports both Republican Party candidates and same-sex marriage.

3. Caxton Associates: $1,072,285.00

This hedge fund currently has $9.8 Billion AUM. Founded by Bruce Kovner in 1983, the fund which is named for the first printer of English-language books. It is now run by Andrew Law, formerly its chief investment officer. When Law first joined Caxton in 2008, he wrangled a 13 percent return for investors in a year other hedge funds averaged a 19 percent drop. At the beginning of 2010, Law bet shorting the Euro and betting long on other global currencies. He told the Wall Street Journal at the end of 2011 that he expects a housing rebound and is buying shares of home-related companies.

4.George Soros  Soros Fund Managment: $915,298.27

George Soros hedge fund manager who is perhaps now best known for his politically liberal philanthropy, but it’s his hedge fund background that makes it possible for him to give away all that money. His Soros Fund Management reportedly manages $25 billion, investing in companies from Hess Corporation to online discount retailer Bluefly. In 2011, Soros returned $1 billion in outside investments and now only manages his family’s money.   More

5.  David Einhorn Greenlight Capital LLC: $592,729.88

Greenlight Capital is a fund has  around $9 billion AUM , Founded by David Einhorn, that shorts companies. They became famous by betting against Lehman Brothers months before Lehman’s 2008 collapse. More recently, they were fined $11 million in January for insider trading in the U.K.

6. Third Point Management LLC: $538,350.00

Third Point is a $9 billion hedge fund founded in 1995 by Dan Loeb. Loeb is notorious for writing letters, scolding everyone from CEOs and boards of companies he invests in to President Obama. Lately Loeb and Third Point have been in the headlines for decrying layoffs and lack of strategy at Yahoo!, where Third Point have more than $1 billion invested. Loeb is supporting Mitt Romney’s presidential campaign, and has raised funds for the candidate. More

7. Entrust Capital Partners LP: $487,667.00

Founded by 3 former Goldman Sachs money managers, EnTrust Capital is a $4 billion fund, and it came under scrutiny in 2009, when it was revealed that their founders were giving money to New York Comptroller Alan Hevesi at the same time as EnTrust got millions of dollars from the New York state retirement fund under Hevesi’s control. Hevesi pled guilty in 2010 to a felony for receiving a reward for official misconduct as part of a wide-ranging pay-to-play operation. EnTrust was not a target in the investigation, which was led by then-Attorney General Andrew Cuomo. Cuomo recused himself from any investigation of EnTrust Capital, because they had managed money for Cuomo and for his campaign.

8. York Capital Management: $445,370.77

York Capital is an event-driven hedge fund with $15 billion under management. Founder James Dinan has, in the past, decried inequality and largely donates to Democratic campaigns.

9. Gracie Capital: $416,433.05

Gracie Capital was founded in 1999 by Daniel Nir, a former partner at Gotham Capital. Nir was one of the founders of the Ira W. Sohn Investment Research Conference, which the New York Times calls ‘an ‘It’ event in hedge fund circles.” In 2010, Gracie’s flagship, $2 billion “Credit Opportunities Funds” were acquired by Moelis and Company. Nir supports mostly Democratic candidates.

10. Eagle Capital Management: $412,950.00

Eagle Capital Management fund that invests in  undervalued companies. Managing director Ravenel Boykin Curry IV has been an active supporter of charter schools, with groups like Girls Prep and Democrats for Education Reform.  Curry is married to decorator and socialite Celerie Kemble and is partners in a planned utopian development in the Dominican Republic with Moby, Fareed Zakaria and Charlie Rose.

According to a breakdown of political donors hedge fund employees, founders and their families have given Cuomo more than $2.5 million in campaign donations. No other candidate has raised more money from hedge funds since 2005 than Andrew Cuomo.
While this represents just a fraction of the $45,700,749 in contributions reported by the Cuomo since 2007, the amount individuals and firms have given is significant, as are the political habits of some of the donors.

Marc Lasry Avenue Capital

EnTrust Capital Partners led all firms in donations with $150,870 donated to the Governor’s campaign coffers. Most of that came from the firm’s managing partner Gregg Hymowitz and his wife Deborah, who together were also the biggest donor duo the Governor has.
Hymowitz’s firm came under scrutiny during the Alan Hevesi years, when the firm was donating to the former comptroller at the same time he invested millions of dollars of the state’s pension fund in the firm. At the time there was concern the then-Attorney General Cuomo had a conflict of interest in investigations that ultimately landed Hevesi in jail because EnTrust had managed both Cuomo and his campaign’s finances. Cuomo ultimately recused himself, and EnTrust ended up not being targeted in the investigations.
Some of the supporters also have viewpoints that line up with Cuomo’s. Eagle Capital Management managing partner Ravenel Boykin Curry IV, for example, has given Cuomo $37,800 and shares the Governor’s positive view of charter schools.
Then there are donors whose names appear at the top of many Democratic candidates fundraising lists. Marc Lasry, co-founder of Avenue Capital Group, is one such donor. Lasry and his wife tied for the largest single donations to Cuomo at $55,900.

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