Einhorn and Shakerchi to play World Series of Poker charity tournament

By Simone Foxman

Fri Jun 27, 2014

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Event features a $1,000,000 buy-in.

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 water.

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 comment.

ISSN: 2151-1845 / CDC10004H

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