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...

TAKE A FREE TRIAL

The full contents of this article are available to active AR subscribers and trialists only.

To continue reading please,
take a free trialsubscribe or log in to AR.

Subscribe

Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Subscribe now