Hedge Funds

Wager results in charity bonanza


A wager between Highbridge Capital's Glenn Dubin and Amaranth Capital's Nick Maounis produced a big jackpot for a charity that helps educate disadvantaged youth. The two managers moved their usual competition in the arena of multi-strategy fund management to the bowling alleys of New York's Chelsea Piers on January 14, as part of a hedge fund community fundraiser for the Grads Foundation. In total, 15 hedge fund industry groups, including Blackstone's fund of funds unit, Goldman Sachs' proprietary trading desk, and hedge funds including Maverick Capital and Tudor Investment, participated in the event, which raised more than $77,000.