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
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).