Sunday, 31 July 2016
Last updated 1 day 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.