The charitable impulse
Fri Jun 29, 2007
Hedge fund giving keeps on growing; the Absolute Return Top 25 Hedge Fund Foundations hit $3.52 billion
Hedge fund giving keeps on growing; the Absolute Return Top
25 Hedge Fund Foundations hit $3.52 billion
By Carolyn Sargent
Hedge funds may be known for crowding trades. But when it
comes to philanthropy, these wealthy capitalists are proving a
diverse lot, pursuing interests as disparate as the funding of
a safe zone for raising children in Harlem (Stan Druckenmiller)
to cleanup of the Chesapeake Bay (Keith Campbell).
Fueled by a sizable increase in assets, the biggest fund
managers keep getting wealthier, stepping up their
philanthropic efforts as they do. Assets in the Absolute Return
Top 25 Hedge Fund Foundations have ballooned to $3.52 billion
from $1.99 billion in last year's survey, a 76.8% increase.
Over the same period, total contributions to the top 25
foundations have increased 190%, to $865 million, giving hedge
funds more clout on the philanthropic scene. (Data reflect
totals for a foundation's most...
ISSN: 2151-1845 / CDC10004H
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