Hedge Fund Philanthropy - Kevin Gundle: Hedge funds rewriting the rulebook

Wed Apr 16, 2008



Kevin Gundle, Aurum Funds Ltd

Hedge fund managers have made a radical impact on the financial markets over recent decades, and they are now exerting a similar influence in the charitable sector.

The most visible feature of this trend is the increasing amounts of capital that hedge fund managers are directing towards the cause of their choice. In 2006, hedge fund managers donated at least $1.5 billion – equivalent to almost 5% of total management fees – to their own philanthropic foundations, and the figure looks set to remain high despite the credit crunch. Within the last two years, the value of the 25 biggest family foundations created by hedge fund managers grew by over 400% from $360 million to $1.6 billion.

The hedge fund community has been instrumental in creating some groundbreaking not-for-profit organisations such as George Soros’ Open Society Institute, Chris Hohn’s Children’s Investment Fund and...

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