Hedge Fund Manager Eyes Islanders

Apr 25 2014 | 9:47am ET

Another hedge fund manager could be poised to join a select group of his colleagues as owner of a sports franchise.

Merion Investment Management’s Andrew Barroway is among the suitors for the New York Islanders, the struggling National Hockey League franchise on Long Island.

Islanders owner Charles Wang has reportedly not decided whether or not to sell the team. But NHL Commissioner Gary Bettman said the Computer Associates founder is “listening to the expressions of interest he’s getting.”

Barroway previously sought to buy the New Jersey Devils and is viewed favorably by the NHL—in spite of a decade-old legal spat with Wang.

The Islanders won four straight Stanley Cups in the early 1980s but have not won a playoff series since 1993. The team currently plays in the second-oldest and second-smallest arena in the league, although it is set to move to Brooklyn in 2015.

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    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…