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

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

FATCA for Hedge Funds: Eight Common Pitfalls

Sep 1 2015 | 10:56am ET

FATCA is now a way of life for those in the financial industry and most professionals...

 

Editor's Note