Staffers from Caxton Associates were slated to face off against Moore Capital in a charity sailing event around Manhattan in late August. The fifth annual New York Hedge Fund Regatta was slated to draw participants from Highbridge Capital Management and Hudson Bay Capital, as well as entrants from Lehman Brothers and Lime Brokerage. Caxton was aiming for a comeback after a weak showing last year. The charity race was poised to raise $32,000 for "Operation Optimist," a summer program for kiddy sailors. Cash comes from $2,000 entry fees for each of the 16 boats set to participate.