Hedge Crunch Financial » Hedge Funds for Humanity

Hedge Fund Community Contributes to Fight Against Child Abuse

James Heinsman — Thu, 10 Mar 2011 07:56:46 +0000

A week ago, the hedge fund community got together in Manhattan in order to raise money to boost the battle against child neglect and abuse. By the end of the evening, over $2 million were collected.

More than 1,200 members of the hedge fund industry took part in the 13^th Annual Open Your Heart to the Children Benefit, which was co-chaired by Jay Peller of Citco Fund Services and Goldman Sach’s Dean Backer. At the event, Anthony Scaramucci of Skybridge Capital received the Hedge Funds Care Award for Caring.

Why Child Abuse?

In an interview with FINalternatives, Peller shared a bit about the community’s decision to focus their fundraising on the support of abused children. He said:

“Our founder, Rob Davis, began his first career as a teacher where he encountered children who were obviously abused and/or seriously neglected right in his classroom. And most importantly, child abuse, unlike other childhood issues such as juvenile diabetes, or pediatric oncology, does not have a constituency of parents advocating for those children. Child abuse and neglect is a hidden problem, happening usually behind the closed doors of the house or apartment. And it is not a topic that people want to discuss. For that reason it is often misunderstood. What better cause for the hedge fund industry to embrace?”

Hedge Funds Care UK Annual Gala

James Heinsman — Sun, 05 Dec 2010 20:36:55 +0000

Great Britain’s fifth annual Hedge Funds Care charity event was held Thursday, December 2, at the Grange St. Paul’s Hotel in London. The fundraising gala included a live auction conducted by Lord Jeffrey Archer, with items that included a signed Status Quo guitar, a Barbados vacation and a luxury tailoring package.

“The charity continues to receive great support from hedge fund managers and service providers alike and our fundraising events represent a great opportunity for market participants to get together and raise significant sums of money that make a meaningful impact in the treatment and prevention of child abuse in the UK,” announced Hedge Funds Care UK chairman Robert Mirksy.
Hedge Funds Care was established in 1998 with the goal of fundraising from within the hedge fund industry for protection of children from abuse and neglect. The alliance has dispensed over $24 million towards this cause.

A Hand-Up, Not a Handout: Habitat for Humanity Teams with Hedge Funds for Housing in New York

James Heinsman — Tue, 10 Nov 2009 09:10:00 +0000

Habitat for Humanity sees as its mission bringing the dream of home ownership into the reality of hard-working families who otherwise would not be able to afford it. The New York City branch of Habitat for Humanity purchases vacant lots for $1 from the city, and then develops them with monies which are raised in a large variety of ways, including through loans, foundation grants, state funds, sales revenues and fund-raising.

As the number of possible sites available for development decreases while the cost of their development skyrockets, Habitat for Humanity decided to enlist the help of the private sector in order to acquire a portion of the needed funding.

For the first time since its establishment in New York in 1984 Habitat is enlisting the help of a well-placed sector in the New York economic and financial world, and that is through hedge fund managers. A few years ago real estate agents helped in the effort, raising over $100,000 towards Habitat’s latest project, the Atlantic Avenue condominium development which includes 41 affordable condo units in the Ocean Hill-Brownsville section of Brooklyn.

The Brooklyn Borough president’s office has also contributed to this undertaking, along with LaCrosse Global Fund Services, PNC Multifamily Capital and a long list of other private sector supporters that believe that “investing in human capital contributes to the success of the hedge fund industry, and New York City.”