Altima's Carvin Eyes Senate Seat

Feb 27 2012 | 3:57am ET

A Westchester County hedge fund manager may challenge New York's junior U.S. Senator in this year's elections.

Joseph Carvin, who works at Deutsche Bank spin-off Altima Partners, is set to meet Saturday with the Republican Party county chairmen from the Hudson Valley. If he does throw his hat into the ring, Carvin would be the third GOPer to seek a shot at Sen. Kirstin Gillibrand, who was appointed to the Senate in 2009 after former Sen. Hillary Clinton became Secretary of State.

In addition to his duties at Altima, Carvin has served for four years as the supervisor of the Town of Rye, N.Y. Politically, he's perhaps best-known for seeking to have the town abolished; with all of its territory taken up by three villages, the town has minimal functions. Carvin was easily reelected to the post he'd like to do away with last year.

Gillibrand won the right to finish out Clinton's term in 2010 with a resounding election victory, taking more than 60% of the vote. Polls late last year show her with a similarly commanding lead in advance of November's election, but Republicans believe that she may be vulnerable.

Should Carvin run, he'll have to take on Manhattan lawyer Wendy Long and Nassau County Comptroller George Maragos, who have already entered the race. Republicans will name their preferred candidate at their annual convention on March 16, although there could still be a primary.

Carvin isn't the only hedge funder mulling a Senate run. Hovde Capital Advisors' Eric Hovde may seek the G.O.P. nomination for U.S. Senate in Wisconsin.

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