Monday, 24 October 2016
Last updated 1 hour ago
Nov 19 2010 | 11:26am ET
The man at the center of the Pacific Alternative Assets Management Co. controversy has a philanthropic side, according to the Portland Press Herald: S. Donald Sussman lent his private jet to a dying Kansas man so he could be near his young sons in Maine.
According to the paper, Sussman heard a radio story about 28-year-old Anthony Napoleone while in Maine in early October. Napoleone, who is dying of an incurable staph infection in a Kansas hospital, wanted to spend time with his sons who live with their mother in Maine.
The investment manager sent his private jet to fly Napoleone and his mother to Maine, where both are now living with a relative.
Sussman, a founder of the multi-billion dollar hedge fund firm Paloma Partners, was an early seeder of the woman-owned Pacific Alternative Assets Management Co. A federal court judge recently ruled that Sussman’s initial $2 million investment entitles him to 40% membership in the firm—but that Sussman may have structured his investment to allow PAAMCo to claim it was woman-owned.