Hedge Funds Philanthropy

Steyer stumbles

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The founder of Farallon faces scrutiny as he restructures his multistrategy firm - and his political ambitions mount.

The founder of Farallon faces scrutiny as he restructures his multistrategy firm - and his political ambitions mount

By Carolyn Sargent

Standing on stage one evening last November at San Francisco's Mark Hopkins Hotel to accept an Exemplary Community Leadership award, Farallon Capital Management founder Tom Steyer focused first on the obligatory platitudes. "I know that my job is to say thank you to the people here," Steyer said, quickly shifting his remarks to the political arena.

"I want to make one short commercial for an idea," Steyer said, wearing a trademark red plaid