Comptroller Hopeful Earned More Than $20M At Silver Point

Jul 6 2010 | 12:06pm ET

Last month, former Silver Point Partners executive Harry Wilson disclosed—as required by law—that the hedge fund paid him more than $250,000 last year. Chances are, the Republican nominee for New York State Comptroller was being modest.

Wilson released his tax returns for 2005 through 2008, showing that he earned more than $20 million during those four years at the Greenwich, Conn.-based firm, including $7.6 million in 2007 and $6.2 million in 2008. His 2009 returns are not yet available; Wilson filed for an extension.

Democrats were quick to dismiss Wilson’s release of his tax returns, and took aim at his claims that his Wall Street years would make him a better steward of the state’s pension billions than incumbent Comptroller Thomas DiNapoli.

“Wilson’s tax returns say nothing about reports that he was forced out of his last hedge fund gig for shoddy investing and his complicity in the Wall Street excesses that cause the financial meltdown,” New York Democratic Party Chairman Jay Jacobs said. “Nor do they offer any meaningful insight into his potential conflicts, since his personal investments are cloaked by an impenetrable network of hedge funds and holding companies.”

Wilson last year denied a New York Post report that he had been forced out of Silver Point in 2008.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...