Hedge Funds Care Raises Over $2 Million To Combat Child Abuse

Mar 4 2010 | 7:06am ET

Hedge Funds Care, a global non-profit organization which raises funds and awareness within the hedge fund industry for programs that prevent and treat child abuse, announced today that its 12th Annual New York Open Your Heart to the Children Benefit raised over $2 million.
 
Supporters, sponsors and industry luminaries gathered on February 25 at Cipriani 42nd Street to demonstrate that the hedge fund industry continues its leadership in philanthropic giving.

“Braving a snow storm, more than 1,100 industry leaders joined in support of the vital work of Hedge Funds Care.  This ongoing generosity will truly empower New York area programs focused on producing a lasting difference in the lives of our children,” said John Budzyna, president and chairman of Hedge Funds Care

The co-chairs for the event were Dean Backer, a managing director at Goldman Sachs, and Richard Baker the president of the Managed Funds Association. CNBC anchor and reporter Trish Regan served as master of ceremonies.

The event featured a gala cocktail reception and the presentation of the Hedge Funds Care Award for Caring to Liya Kebede, for her efforts to improve health conditions for women and children around the world, and Michael Novogratz, President of Fortress Investment Group, for his corporate and philanthropic leadership. Lee Daniels, Director of the film, Precious: Based on the Novel Push by Sapphire, received the Hedge Funds Care Founder’s Award.

Since the first benefit in 1998, Hedge Funds Care has awarded over 600 grants totaling $21 million in the United States and abroad.  In 2009, the New York benefit raised $1.3 million, which supported 30 organizations that address child abuse in the tri-state area. Due to the economic downturn, many more organizations are in need of funding for their vital services. The success of the New York Benefit means that Hedge Funds Care is in a position to provide increased support in 2010.


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