Steve Cohen hosts GOP strategy session

By Lawrence Delevingne

Fri Aug 27, 2010

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Hedge fund managers and Republican operatives met at the mogul's Greenwich mansion to figure out how to win in November

Hedge fund managers assembled at SAC Capital Advisors founder Steven Cohen’s home in Greenwich, Conn., Tuesday evening to discuss how to help Republican Party candidates win the upcoming midterm elections.

According to a person familiar with the event, attendees included Bruce Kovner of Caxton Associates, Paul Singer of Elliott Management, Daniel Senor of Rosemont Capital, and various GOP operatives. Spokespersons for Cohen and Kovner declined to comment. Singer and Senor did not respond to requests for comment.

The gathering was intended as a strategy session during which several Republican party operatives discussed with large donors how best to deploy campaign contributions and other support so that Republican candidates could win in the upcoming midterm elections, according to the source.

Kovner, Singer and Senor are long-time supporters of conservative causes.

Among hedge funds, Singer’s Elliott Management is the top contributor to Republicans so far for the 2010 election cycle, giving a total of $1.1 million away, 97% of it to the GOP, according to the Center for Responsive Politics, a non-partisan influence tracking group.

Cohen’s SAC recently switched allegiances, giving 93% percent of its total 2010 election cycle donations to Republicans (approximately $193,000 of $207,850) through August 1, according to CRP. By contrast, SAC gave 71% of $608,694 (about $432,000) to Democrats during the 2008 election cycle. Much of it went to Chris Dodd, senator from his home state of Connecticut, who was a primary candidate for President and head of the Senate Committee on Banking, Housing and Urban Affairs.

That switch is part of a broader trend of the hedge fund industry switching its allegiance to Republicans after donating heavily to Democrats in recent years (see " Moving to the Right" from AR’s June issue).

ISSN: 2151-1845 / CDC10004H

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