Wednesday, 23 July 2014
Last updated 8 min ago
Jun 23 2010 | 10:59am ET
Former Silver Point Partners executive Harry Wilson, the Republican nominee for New York State Comptroller, earned more than $250,000 from the hedge fund last year.
Wilson, who has also worked at the Blackstone Group and Clayton Dubilier & Rice, disclosed total income for 2009 of more than $330,000, as required by law. But the form tops out at $250,000 and up per source of income, so it is unclear how much Wilson actually earned from Silver Point last year.
Wilson has also yet to disclose how much he made from his investments in Silver Point’s funds, which he received an extension for “because the data are not available at this time,” he told the Albany Times-Union.
The former hedgie, who has called on incumbent Comptroller Thomas DiNapoli to debate him about his handling of New York’s state pension fund, also sought to turn the potential political liability of hedge fund ties to his advantage.
Of his own investments, Wilson said, “You’ll see a not-heavily-invested portfolio because I think the market is ahead of itself, and as a result of that I kind of practice what I preach,” he told the Times-Union.
“I think it’s bad news for the pension fund to be exposed to this kind of equity risk and I think it’s bad news for the Wilson family to be exposed to this much equity risk,” he said. “My portfolio will speak to that.”
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…