One year ago
Hedge fund executives topped the list of Obama boosters, as
key supporters included David Shaw, founder of D. E. Shaw &
Co. and Orin Kramer of Boston Provident.
Another who has taken public positions this year in support
of the incumbent Democrat has been newly-retired
Farallon Capital Management founder Tom Steyer, who spoke
at Obama's convention last month. Grosvenor Capital Management
CEO Michael Sacks and Avenue Capital founder Marc Lasry are
also listed by the Center
for Responsive Politics as
top Obama bundlers.
Other institutions, such as Goldman Sachs and fund of funds
have migrated to Romney and are listed among his top
A fundraiser in New York last week that featured Republican
vice presidential nominee Paul Ryan was hosted by Third Point
founder Dan Loeb,
John Paulson and David Tepper, among numerous hedge
fund and financial services executives.
Robertson, Singer among major Romney donors -
Romney fetes Julian Robertsons 80th
SEC's Kathleen Casey to chair AIMA
Occupy Wall Street marched to billionaire John Paulson's
door and delivered a mock $5 billion check to raise awareness
of the often low tax rates that hedge fund managers can pay
when applying capital gains tax treatment to performance fee
The target on his back hasn't seemed to hurt Paulson's mood.
He brought out chuckles among a group of young Jewish
professionals last month when
he called recent SEC disclosure requirements a complete
waste of time and blasted the Dodd-Frank law as gobbledygook.
Paulson's negative sentiments matched his performance, with the
flagship Paulson Advantage fund down 10.53% in 2012 through the
end of September (data
here), compared with a 5.40% rise for the
Absolute Return Event-Driven Index.
But Paulson has perhaps taken a more populist leaning in his
charitable endeavors. Today
he announced a $100 million donation to the Central Park
Conservancy, which he called one of the most important cultural
institutions in New York. The money will finance maintenance to
the park and improvements to its southwest gate. If the Occupy
movement sets up shop there, they can thank Paulson for helping
to keep the grounds in fine order.
Paulson Europe partner Mina Gerowin retires -
All stories from October 2011
Five years ago
Joseph "Jody" LaNasa, once head of multistrategy investing
within Goldman Sachs' special situations group, started hedge
fund Serengeti Asset Management with $400 million.
Assets rocketed to $1.3 billion as of midyear 2008, but the
firm quickly fell beneath that mark as the flagship
Opportunities Fund was hammered with a 52.1% loss that year,
compared with a 9.95% drop for the
Absolute Return Multistrategy Index. It took until this
year for the firm to pass back into the vaunted territory of
Billion Dollar Club, as it managed $1.2 billion on Oct 1,
up from $853 million in April.
The asset growth comes on the back of performance gains,
with the Opportunities Fund up 84.6% in 2009, 25.8% in 2010 and
1.2% in 2011. It was up 11.6% through the end of September this
year. The credit-focused
Serengeti Lycaon fund is up 15.20% this year through the
end of September, much higher than the 6% return for the
Absolute Return Credit Index.
Patrick Clifford, an external spokesman for Serengeti,
declined to comment.
Serengeti business development chief Matthew Root
All stories from October 2007