100 Women in Hedge Funds Raises $1.27M For Charity

Nov 14 2013 | 11:26am ET

Non-profit industry group 100 Women in Hedge Funds has raised $1.27 million from its annual New York Gala, which took place last night, and other regional fundraising events so far this year. The funds will benefit Best Buddies International, a global nonprofit that creates opportunities for one-to-one friendship, integrated employment and leadership development for people with intellectual and developmental disabilities.

At last night's Gala, 100WHF presented its 2013 Effecting Change Award to Barbara Novick, vice chairman of BlackRock and its 2013 U.S. Industry Leadership Award to the late Karen Cook, former chief investment officer of Steinhardt Management Company. Cook passed away on October 2 this year from Progressive Supranuclear Palsy, a rare neurodegenerative disease. Everett Cook, Karen's husband and co-founder of Pouschine Cook Capital Management, accepted the award on her behalf. A special donation was collected for CurePSP, a foundation dedicated to PSP care, education and research.

Commenting on the honorees and 100WHF’s philanthropic partnership with Best Buddies, Lauren Malafronte, 100 Women in Hedge Funds board of directors executive committee member said, "Among the leaders of the alternatives industry, there are few women like Barbara Novick and Karen Cook; both blazed many trails, climbed corporate heights and mentored women in our sector. We celebrate their success by maintaining a mentorship network for those in the alternatives industry and by partnering with Best Buddies to support their own mentoring programs. We thank our generous members, friends and supporters who have helped raise funds that will build a brighter future for the participants in Best Buddies' programs."

Novick co-founded BlackRock in 1988, where she serves as a member of the firm’s global executive and global operating committees and chair of the government relations steering committee. From the inception of BlackRock until 2008, Novick headed the global client group and oversaw global business development, marketing and client service across equity, fixed income, liquidity, alternative investment and real estate products for institutional and individual investors and their intermediaries worldwide. In her current role, Novick heads the firm’s efforts globally on government relations and public policy.

Cook retired as chief investment officer of Steinhardt Management Company in 2008, marking the end of a career that spanned over 30 years and saw the earliest days of women’s leadership in the alternatives industry. She joined Steinhardt Partners in 1995 as general partner and director of client services and in 1996 transitioned to overseeing outside hedge funds and managed accounts. In addition to her responsibilities at Steinhardt, she simultaneously served as managing general partner of Nepeta Partners, a top-performing fund-of-funds invested in hedge funds.

Since its formation in 2001, 100WHF has raised more than $33 million globally for philanthropic causes in the areas of women's and family health, education and mentoring.


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