Hedgies Bundling Millions For Obama

Jul 18 2011 | 8:33am ET

A pair of hedge fund managers highlight President Barack Obama’s list of top donors to his reelection campaign, released on Friday.

Boston Provident Partners’ Orin Kramer and Centerview Partners’ Blair Effron were among the 31 “bundlers” who collected more than $500,000 each for the president’s effort. All told, Obama relied on 271 bundlers to raise $86 million for his own campaign and for his joint account with the Democratic National Committee.

Many of the new “bundlers” and other donors supported Obama’s opponent for the Democratic nomination three years ago, now-Secretary of State Hillary Rodham Clinton. They also include former New Jersey Gov. Jon Corzine, who now leads futures brokerage MF Global.

While the bundlers are proving key to Obama’s fundraising success, accounting for about 40% of the money raised, the president’s campaign trumpeted the fact that two-thirds of the money he’s raised came from small donors, giving $200 or less. By contrast, Mitt Romney, the Republican presidential hopeful with the biggest warchest, raised less than 1% of his $18.25 million in the second quarter from small donors.


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