Hedge Fund Madam To Run For N.Y. Mayor

Jan 15 2013 | 11:49am ET

Having unsuccessfully sought her former client's old job in 2010, hedge-fund-administrator-turned-Manhattan madam Kristin Davis has thrown her hat into the ring for a job many thought Eliot Spitzer might seek this year.

Davis, who did time for running a prostitution service that she says catered to the likes of Spitzer and former International Monetary Fund chief Dominique Strauss-Kahn, will seek the Libertarian Party nod to succeed New York City Mayor Michael Bloomberg, who is prevented from running for reelection by term limits. And she plans to tackle several of Bloomberg's signature achievements if elected, including his limits on soft-drink sizes and other "Nanny State" issues.

"Kristin's campaign is not a joke or a publicity stunt," he campaign Web site claims. "This is a campaign about real reform. New York is becoming a Nanny State ruled by legislators who believe that they can make personal and private decisions for its citizens."

Davis—who has ruled out a return to running prostitution rings but has said she'd consider returning to the hedge fund industry—also plans to use her knowledge of the industry in her hoped-for new job.

"I recognize that hedge funds are a large part of the financial market and have the capability to influence market conditions," she told Absolute Return. "As mayor, I would want to work with the hedge funds to ensure compliance with SEC rules and to find a level of transparency that works for the funds and their investors to increase trust of the funds and markets."

Davis joins a crowded field seeking the Big Apple's highest office, one that includes a fellow hedge funder but not Spitzer. Centerbridge Partners co-founder Mark Gallogly is said to be mulling a run as a Democrat.

Davis will also be seeking to improve upon her dismal performance in the 2010 governor's race; she finished dead last, with just over 20,000 votes of the more than 4.7 million cast.


In Depth

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note