Hedgie Hovde Loses Opponent For Senate Nod

May 1 2012 | 3:07am ET

Hedge fund manager Eric Hovde's road to the Republican nomination for a U.S. Senate seat from Wisconsin just got marginally easier.

Kip Smith, a physical therapist, ended his longshot campaign to win the seat being vacated by Sen. Herb Kohl (D-Wisc.). Of course, Smith's exit—to come today at 10 a.m. in Rhinelander—still leaves Hovde with at least three opponents for the G.O.P. nod, all of whom have political experience, unlike the Hovde Capital Advisors and Hovde Private Equity Advisors founder.

Former Wisconsin governor and U.S. health and human services secretary Tommy Thompson, former U.S. Rep. Mark Neumann and Wisconsin Assembly Speaker Jeff Fitzgerald all remain in the race; a primary will decide the nominee on Aug. 14.

Hovde entered the race last month. His father was an official in the Ronald Reagan administration in the 1980s.

While Hovde doesn't have the political pedigree that his remaining opponents boast, he certainly won't run into Smith's main problem: fundraising. Smith said his decision to exit the race was based "mostly on the difficulty in raising the funds necessary to continue."


In Depth

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note