Greenlight Capital’s David Einhorn and
Meditor Capital Management’s Talal Shakerchi will
be among the participants at the World Series of
Poker’s charity tournament, called The Big One for
One Drop, at the Rio Hotel & Casino in Las Vegas. One Drop
is an organization devoted to improving access to safe
The event, which requires a $1,000,000 buy-in,
start Sunday and go on for three days. The no-limit
hold’em contest is limited to 56 participants.
Any prize money Einhorn wins will go to the Robin Hood
Foundation, the non-profit organization dedicated to ending
poverty in New York City.
Einhorn came in 18th at the
World Series of Poker’s main event in 2006, and
won $4.3 million for coming in third at the first installment
of the Big One for One Drop event in 2012. He donated those
proceeds to City Year, a non-profit that helps at-risk youth
graduate from high school. Einhorn’s participation
in this year’s tournament was first reported by Bloomberg News.
The offshore version of Einhorn’s
flagship fund finished May up 4.57% for the year, according to
a report by HSBC’s private bank. That compares
with a rise of 2.37% for the Absolute Return U.S. Equity
Index for the year through May. The fund’s
annualized return through May stood at 17.23%.
Shakerchi’s London-based Meditor
announced that it would return money to investors in its
flagship long/short equity fund in December. At the time, it
had been running $1.6 billion and was up 15.82% through November. Since its
inception in 1998, the fund had generated a net annualized
return of 12.82%.
Announcing his fund’s liquidation,
Shakerchi had said he would spend more time on philanthropy.
Shakerchi has won nearly $1.8 million in live tournaments
including winnings from five World Series of Poker events,
according to a press release announcing new players in the
event. He also played in the event’s first
installment in 2012.
Jonathan Gasthalter, an external spokesman for
Greenlight with Sard Verbinnen & Co., declined to comment.
Meditor did not answer phone calls seeking a request for