Pine River plays poker for Robin Hood

By Lawrence Delevingne

Tue Sep 11, 2012


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Firm partners Steve Kuhn and Brian Taylor hosted a charity tournament last night in New York with players from Greenlight, Soros, Axonic; more than $500K raised.


 
  Pine River's Steve Kuhn (Photo: Bloomberg)

Pine River Capital Management, the $6.14 billion Minnetonka, Minn. firm with returns that are among the best in the industry this year, is giving a little back.

Firm partners Steve Kuhn and Brian Taylor hosted a poker tournament last night in New York City to benefit the Robin Hood Foundation and other charities. Some 200 people came from 17 hedge fund and Wall Street firms. Together, more than $500,000 was raised for hedge fund favorite Robin Hood; nearly $30,000 will go to the Cystic Fibrosis Foundation, PACER Champions for Children with Disabilities, and The Boston Boys and Girls Club, according to a Pine River spokesman.

A team from Andrew Redleaf's Whitebox Advisors, including founder Andy Redleaf and his chief communications officer Richard Vigilante, won the event. Their $25,000 winnings went to charity of choice PACER. To win, they beat participants from Greenlight Capital, Ellington Management Group, Axonic Capital, Soros Fund Management, Prosiris Capital Management, SkyBridge Capital, Credit Suisse, Barclays, Morgan Stanley, Goldman Sachs, RBS, Citigroup, Bank of America, JP Morgan and Nomura.

Pine River is in the midst of a stellar year. The firm has added nearly $2 billion to its overall assets under management over the past six months on the back of double-digit returns in its mortgage heavy Fixed Income Fund (up 23.97% through August) and Liquid Mortgage Master Fund (up 19.59%). The median hedge fund is up 4.03% for the year through August, according to the AR Composite Index and the median MBS fund is up 9.45%.