Hedge funders fight global poverty at Trickle Up benefit

By Lawrence Delevingne

Wed Apr 3, 2013


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Offit, Lucidus, AQR, Halcyon among nonprofit's supporters; Saharan blues at Cipriani Wall Street.


   
   Members of Trickle Up's 100 Women Campaign (L-R): Fashion designer Susie Crippen, triathlete Paula Newby-Fraser, Clara Kim of Lucidus, Treena Huang and Florencia Cerosimo (Photo: Elliot Black)

Hedge fund professionals were among a Wall Street-heavy crowd that turned out in support of anti-poverty nonprofit Trickle Up last night at its annual benefit dinner in New York City.

Held at Cipriani Wall Street and featuring African blues from Abdoulaye Alhassane's Deep Sahara Band, the gala raised $700,000. The roughly 300 guests included industry executives Clara Kim from Lucidus Capital Management (also a Trickle Up director), Christine Jurinich from Offit Capital Advisors, Ben Alimansky from wealth manager Glenmede and Jonathan Ledecky, formerly of Ironbound Capital Management, among others.

Recent corporate sponsors of Trickle Up also include hedge fund firms AQR Capital Management, Daruma Capital Management, Greylock Capital Management, Halcyon Asset Management and H.I.G. Capital, according to organizers.

Trickle Up works to help people living on less than $1.25 a day by providing training and seed capital grants to launch or expand a small business and savings support to build assets. The group, founded in 1979 by Glen and Mildred Robbins Leet, works in Burkina Faso, India, Guatemala and Nicaragua (it was recently forced to leave Mali because of conflict there).

"Trickle Up is really the 'friends and family' of the developing world to get small businesses started," said Greycroft and Apax founder Alan Patricof in a speech. The venture capitalist and 10 year board member was presented a humanitarian award at the event.