Ainslie of Robin Hood Raising Funds For Sandy’s Victim’s

November 6, 2012 James Heinsman Hedge Fund News

Lee Ainslie of The Robin Hood Foundation

As the cold begins to settle-in in the Northeast corridor where Hurricane Sandy left a path of mayhem and destruction, hedge funds are gearing up to help in the recovery effort. A large number of hedge funds are donating sums to the various organizations providing the necessities to people left without power or shelter in the aftermath of the storm. Observers are hoping that the proceeds will not only match the size and scope of the damage, but will also match the hedge fund industry’s ample resources.

Hedge fund managers often display generosity to match their success. For instance, just before Sandy arrived on the shores of New York and New Jersey John Paulson of Paulson and Company gave a record $100 million to benefit the Central Park Conservancy. Co-founder of the Carlyle Group William Conway donated $1 billion in September to education and job training directed at helping boost the lives of the poor.

The Robin Hood Foundation, founded by hedge fund star Paul Tudor Jones over twenty years ago to fight poverty, announced that it will be boosting its efforts to raise money and help the residents of the East Coast who still do not have power or a permanent place to live.

Lee Ainslie, chairman of Robin Hood, announced that the foundation will distribute $3 million immediately to help the regions adversely affected by the Hurricane. Ainslie, who is also the CEO of the hedge fund Maverick Capital Management, also announced that Robin Hood has already raised $8 million to help the Hurricane’s victims.

The Robin Hood Foundation is one of Wall Street’s favorite destinations for charitable donations, with a star-studded hedge fund presence sitting on the board, including: Daniel Och of Och-Ziff Capital Management, David Tepper of Appaloosa Management, Barry Sternlicht of Starwood Capital, Steven A. Cohen of S.A.C. Capital Advisors and Glenn Dubin of Highbridge Capital Management.

General fund raising efforts have already gotten a boost last Friday night. NBC presented a telethon on behalf of the American Red Cross which was meant to attract TV viewers throughout the country with performances by popular celebrities such as Bruce Springsteen, Billy Joel, Christina Aguilera, Jon Bon Jovi, Mary J. Blige and Sting. The show raised $23 million, considerably less than the $40 million a similar telethon raised in the aftermath of the Hurricane Katrina disaster in 2005.

Hurricane Sandy, John Paulson, Lee Ainslie, Paul Tudor Jones, The Robin Hood Foundation,

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