Hedge funds give more to Republicans
May 10, 2010
The GOP received the majority of hedge fund political contributions in the first quarter of 2010.
After years of favoring Democrats, hedge funds appear to be shifting their political donations to the right.
Republicans have received the majority of political contributions from hedge funds in recent months as votes on financial reform legislation loom and GOP candidates appear poised to regain seats in both houses of Congress come November. This trend echoes a shift by all of Wall Street.
Many hedge funds and their managers remain prominent Democratic boosters, and others have long courted Republican lawmakers regardless of the political climate. But there’s a tentative movement from left to right that could soften the strong ties between hedge fund managers and liberal politicians that have been dominant in the past decade.
“Contributions from the hedge fund industry have indeed shifted toward Republicans as of late, although Democrats still enjoy the majority of the industry's contributions,” said Dave Levinthal, communications director for the Center for Responsive Politics,...
TAKE A FREE TRIAL
The full contents of this article are available to Absolute Return subscribers and trialists only.
To continue reading please, take a free trial, subscribe or log in.
Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.