Wednesday, 22 February 2017
Last updated 40 min ago
Mar 5 2012 | 1:44pm ET
Hedge Funds Care, a non-profit organization that uses money raised from the hedge fund industry to prevent and treat child abuse, raised a record $2.2 million for its cause on Thursday night.
The organization held its 14th Annual New York Open Your Heart to Children benefit at Cipriani on 42nd Street, bringing together 1,000 executives from across the hedge fund industry, including representatives from Marathon Asset Management, Pershing Square Capital Management, Claren Road Asset Management and many more.
The evening featured a cocktail reception and silent auction, after which former New York Yankees manager Joe Torre was honored with the Hedge Funds Care Founder’s Award. Torre, who experienced abuse as a child growing up in Brooklyn, was singled out for his efforts to end the cycle of abuse through the work of the Joe Torre Safe at Home Foundation.
“The hedge fund industry’s support of our charity has enabled us to serve over 46,593 children in 2011. Thanks to the funds raised, we hope to make an even larger impact this year,” said John Budzyna, Chairman of the Board of Hedge Funds Care.
“Despite the recent attention that the Penn State scandal has brought to the problem of child abuse, it remains an issue that few speak of and even fewer are willing to address,” said Kathryn Conroy, executive director of Hedge Funds Care. “The powerful philanthropy of the alternative investments community is helping Hedge Funds Care provide grants to organizations that shine a light on this issue in an effort to prevent it from happening in the first place, and to help those heal who have been hurt.”
Funds from this year’s event will go to for child abuse programs in New York, New Jersey and Connecticut. In addition to the New York gala, Hedge Funds Care raises funds through events in more than 11 cities in the U.S., the U.K., Canada and the Cayman Islands. Since its inception, Hedge Funds Care has awarded more than 800 grants totaling more than $29 million.