Saturday, 25 October 2014
Last updated 13 hours 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.