Hedge Funder Gives $1 Million To Own Congressional Campaign

Apr 17 2012 | 12:09pm ET

Altima Partners' Joseph Carvin hopes to make $174,000 next year, and he's ponied up more than $1 million to do so.

Carvin is seeking the Republican nomination to challenge U.S. Rep. Nita Lowey (D-N.Y.) in her suburban New York Congressional district. And, as promised, he's all but financing his campaign on his own, contributing $1,032,000.

Other donors have given Carvin just $75,000 since he threw his hat into this ring last month, after dropping out of the race for the G.O.P.'s nod to challenge Sen. Kirsten Gillibrand (D-N.Y.)

Lowey, already sitting on an $890,000 warchest, raised $270,000 last month and has more than $980,000 in cash on hand, not much less than Carvin's $1.05 million.

Lowey has not faced a serious Republican challenge in a decade. But her new district is somewhat less favorable to Democrats; it includes fewer of the southern Westchester County communities that generally favor Democrats. President Barack Obama carried the new district, which includes all of Rockland County in addition to portions of Westchester, with 57% of the vote, compared to 62% in the old district.

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Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…