Red Kite Chief Named U.K. Conservative Party Treasurer

Feb 7 2012 | 11:19am ET

The U.K.'s ruling Conservative Party has swapped hedge fund managers at the head of its campaign war chest.

RK Capital Management founder Michael Farmer, who has given the party some £3 million, was named co-treasurer. He succeeds Stanley Fink, the former Man Group CEO who now leads hedge fund International Standard Asset Management, and who was rewarded with a peerage for his work helping put the Tories into office a year-and-a-half ago.

Fink, who will also leave the Tories' board, is stepping down to focus on "business interests and philanthropic work." He had originally planned to step down after the May 2010 election, but agreed to stay on after his designated successor declined the post.

The appointment of Farmer is sure to cause some controversy: Farmer, whose fund rose 47% last year, said during the 2010 election, "you can call me a City fat cat if you want, but I'm not giving away my hard-earned money for fun. I'm giving it away because I want to fund something I genuinely believe: that Cameron and the Tories will be a far better government for the country than Labour."


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR