Friday, 26 December 2014
Last updated 2 days ago
Aug 14 2013 | 9:27am ET
Newark, N.J, Mayor Cory Booker appears headed for the U.S. Senate, a path made smoother by a generous injection of money from hedge fund and private-equity managers.
Booker is widely seen as a rising star in the Democratic Party and yesterday trounced his intra-party opponents in the primary for the right to seek election to fill out the term of the late Sen. Frank Lautenberg (D-N.J.). Booker received 59% of the vote, easily besting the two congressman also seeking to succeed Lautenberg.
He'll face Republican candidate Steven Lonegan in a special election in October. Booker is currently leading Lonegan, a former mayor of Bogota, N.J., by double-digits in the polls, and New Jersey has not elected a Republican Senator since 1972.
The Newark mayor takes on Lonegan with the backing of a number of prominent alternative investments players. Baupost Group's Seth Klarman gave $100,000 to a political action committee backing Booker, and Eagle Capital Management's Ravenel Curry III and Ravenel Curry IV each chipped in $50,000 apiece. The younger Curry has also given directly to Booker's campaign, and he and Klarman have also given to Booker's older PAC.
They're not alone: A trio of Bain Capital employees, John Cannaughton, Jonathan Lavine and Steve Pagliuca have given a total of $5,200 to his campaign account, and two other Bain managing directors, Joshua Bekenstein and Mark Nunnelly gave $15,400 to the Booker Team for Newark.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.