Paul Ryan to hedge funds: Successful = Good

By Lawrence Delevingne

Tue Oct 16, 2012


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The Republican vice-presidential nominee spoke last night in New York at a financial industry fundraiser co-hosted by Dan Loeb, John Paulson, David Tepper and many more.


 
Paul Ryan (Photo: Bloomberg)

Hedge fund managers turned out in force last night in New York to benefit Mitt Romney and Paul Ryan's election campaign. Ryan's message to them? Keep up the good work.

According to a hedge fund manager in attendance, Ryan took pictures with supporters--admission was $1,000, but photos cost $5,000--and then spoke to the standing-room only crowd for about 10 minutes. He gave a standard stump speech, hitting on many of the same themes as in the recent vice-presidential debate with Joe Biden. According to the attendee, the themes Ryan spoke about were: the country needs a spirit of entrepreneurialism; capitalism and being successful are good things, not a bad; it's a good thing to create jobs in the private sector; and the government shouldn't be driving the agenda--it's the private sector that needs to get back on its feet and create jobs.

Ryan did not take questions and left shortly after the speech.

The fundraiser was held at the Hilton hotel on Sixth Avenue and was co-hosted by nearly 200 people, including hedge fund mangers Dan Loeb of Third Point, David Tepper of Appaloosa Management, Sander Gerber of Hudson Bay Capital Management, Ricky Sandler of Eminence Capital, John Paulson of Paulson & Co., John Griffin of Blue Ridge Capital, Henry Druker of Druker Capital, Remy Trafelet of Trafelet Capital Management, Marc Rowan of Apollo Management, Scott Bommer of SAB Capital, Matin Zweig of Zweig-DiMenna Partners and Jeffrey Altman of Owl Creek Asset Management.

Others from the alternatives industry included Anthony Scaramucci of fund of funds SkyBridge Capital; Eugene Atkinson of fund of funds Atkinson Capital; Alan Pace, head of Citi's prime finance unit; Steve Lessing of placement agent Aqueduct Capital Group; and Barry Bausano, head of Deutsche Bank's prime brokerage group.

It's not clear that all the co-hosts actually attended, but the room is said to have been packed--about 600 people according to ABC News--and full of energy. "It was a huge turnout and a great success," said the manager who attended.

Overall, hedge fund employees have given about $342,000 to Barack Obama compared with $1.26 million to Mitt Romney, according to non-partisan influence tracker Center for Responsive Politics. Overall, the industry has contributed about $9.13 million to Republicans and $2.93 million to Democrats this election cycle.

The Romney campaign did not immediately respond to a request for comment.

See also: Obama adds hedge fund bundlers | Goldman Sachs, SkyBridge among Mitt Romneys hedge fund bundlers