Conn. Gov. Offers Dinner Date For New York Hedge Fund Heavies

Jul 22 2010 | 12:46pm ET

Her letter to the New York hedge fund industry inviting them to move north having attracted no takers, Connecticut Gov. M. Jodi Rell is offering some face time.

Rell—who sent the letter to the New York Hedge Fund Roundtable and several prominent New York hedge funds after the state began considering a new tax on the industry—has sent another letter to the Roundtable, inviting its president, Timothy Selby, and “a few” of his colleagues to meet her for dinner at a Darien restaurant.

“We have much to discuss!” Rell exclaimed, the New York Post reports. “The meeting will be intimate, direct and private.”

Rell’s initiative follows a proposal to close the so-called carried-interest loophole in New York. That measure would tax performance fee income as ordinary income, rather than capital gains, more than doubling the rate such fees are assessed. But as with her last letter, the invite to The Water’s Edge at Giovanni’s on Aug. 2 seems to be attracting more kind words than actual interest.

“I’m encouraged that there is a politician who would have such an appreciation for this sector of the financial-services industry,” Selby told the Post, adding, “I only wish we had a counterpart of hers in New York.” But despite the praise, Selby would not even commit to dining with Rell, saying the invite is “under consideration.”


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note