Wednesday, 23 July 2014
Last updated 1 hour ago
Aug 20 2012 | 11:56am ET
Hedge fund managers are continuing to back Mitt Romney's bid to oust President Barack Obama in a big way.
While Obama and Romney's running-mate, Rep. Paul Ryan (R-Wisc.), spent the weekend pressing the flesh with voters, Romney stuck to a more genteel—and well-heeled—crowd with a string of fundraisers that brought in some $7 million. One, on Friday night, was held at the East Hampton, N.Y., home of BlueRidge Capital founder John Griffin.
Griffin is one of a number of hedge fund managers who backed Obama four years ago only to change his stripes this time around, giving more than $100,000 to a Romney political action committee over the past year.
The barbecue at the Griffins' cost attendees $25,000 a head.
Of course, Romney's new number-two is no slouch when it comes to hob-nobbing with the hedge fund elite either. He is close with some of the industry's more right-wing members, including AQS Capital Management's Clifford Asness and Elliott Management's Paul Singer, with both of whom he is reportedly on first-name terms. Citadel Investment Group founder Kenneth Griffin has also raised money for Ryan.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…