Tuesday, 3 March 2015
Last updated 9 hours ago
Jun 1 2012 | 8:08am ET
Deep pocketed donors have long played a role in national politics, but perhaps no group has become more influential in this election cycle than the financial titans known as asset managers.
In this series, which will appear over the next two weeks, we take a close look at hedge fund managers, private equity executives and their less glamorous but equally powerful Wall Street counterparts to discover who is supporting Romney and who is backing Obama—why, and for how much.
Eric Mindich, Eton Park
At 27, the age at which his candidate of choice was just entering Harvard University’s law school, Eric Mindich was making partner at Goldman Sachs—the youngest person ever to do so.
Ten years later, he left Goldman to launch his own hedge fund, Eton Park Capital Partners, which today manages some $12 billion. Once you’re into Eton Park, you’re in for the long haul (the hedge fund has some of the strictest lockup terms in the business) and that seems to be Mindich’s attitude toward Obama too. Unlike some asset managers who supported the president in 2008 only to decamp to Romney in 2012, Mindich has remained loyal.
Mindich, a team Obama “bundler” for 2012 (a role he also played in 2008), has delivered between $50,000 and $100,000 to the president’s re-election campaign (the Center for Responsive Voting says bundler contributions are hard to nail down as they’re reported in ranges rather than exact amounts). He and his wife Stacey Mindich, a Broadway producer, each gave $35,800 to the Obama Victory Fund 2012 and in 2011 each gave $30,800 to the DNC and $5,000 to Democratic Senator Kirsten Gillibrand. All told, they’ve given $530,900 to the Democrats since 1990.
Money Managers And Their Donation Dollars
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…