||Pine River's Steve Kuhn (Photo:
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
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%.