British Conservatives Go Into Election With Alts. Backing

May 6 2010 | 12:23pm ET

The British people are voting today, and if the Conservative Party scores a victory for the first time in 13 years, it will have the alternative investments industry to thank.

Many of the top hedge fund and private equity honchos in the U.K. have donated millions to the Tories. The backing of the right-of-center party in Britain is a contrast to the situation in the U.S., where hedge fund employees overwhelmingly back the Democratic Party and were major donors to President Barack Obama.

One of the biggest donors from the alts. world was, unsurprisingly, former Man Group CEO and current International Standard Asset Management chief Stanley Fink. Fink, the treasurer of the Conservative Party, has given more than £1.9 million. But Fink’s generosity paled in comparison to that of Red Kite Management’s Michael Farmer, who gave £2.3 million.

CQS’ Michael Hintze also gave more than £1 million.

The Tories have held a consistent lead in the polls over both the governing Labour Party and the third-party Liberal Democrats. But the most likely outcome of today’s poll appears to be a hung parliament, in which none of the three major parties have a majority. That could keep the Conservatives, and their leader David Cameron, out of office even if they win the most votes and seats, should Labour and the Lib Dems set up a coalition government.

Even if the Tories squeak through or form a minority government, hedge funds shouldn’t expect too much from the party, one source told The Guardian, even though the Conservatives have pledged to continue Labour’s opposition to European Union hedge fund regulations.

George Osborne, likely the next Chancellor of the Exchequer if the Tories form a government, “is a pragmatic guy,” the source told the paper. “He won’t want to be seen as being in hock to a bunch of hedge fund managers.”

Other hedge fund managers and private equity chieftans backing the Conservatives included Lansdowne Partners’ Paul Ruddock, Sovereign Capital’s Ryan Robson, Odey Asset Management’s Crispin Odey, Winton Capital’s David Harding and Brevan Howard Asset Management’s Alan Howard and Christopher Rokos.


In Depth

Q&A: Open Season For Closed-End Funds

Aug 29 2014 | 10:00am ET

When Maury Fertig and Bob Huffman, former Salomon Brothers coworkers, launched...

Lifestyle

Och Funds Women In Finance Initiative At U-M

Aug 28 2014 | 3:01pm ET

Och-Ziff Capital founder Daniel Och and his wife have made a "generous donation"...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

The time was right

Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.