Wednesday, 1 April 2015
Last updated 44 min ago
Aug 6 2014 | 4:40am ET
Everyone knows that hedge fund managers are rich: There were, after all, at least 78 entrants from the alternative investments universe in this year’s Forbes magazine ranking of global billionaires, led by Carl Icahn and George Soros. But how many are the richest in their neighborhood?
Real-estate blog Movoto takes up that challenge, and finds that only four alts. billionaires earn the title “richest man in the state.” Neither Icahn nor Soros even come close in New York, where their fortunes are dwarfed by that of David Koch.
In neighboring Connecticut and New Jersey, however, hedge-fund managers rule. Ray Dalio is the richest man in the Nutmeg State with $14.4 billion, and David Tepper stands astride the Garden State with $10 billion. (Both are among the top 10 wealthiest hedge fund managers, according to Forbes.) Further up Interstate 95, Providence Equity Partners’ Jonathan Nelson ranks as the wealthiest man in Rhode Island.
The only other hedge fund manager to make the cut was Citadel Investment Group’s Kenneth Griffin, Illinois’ richest with $5.5 billion. Griffin’s hold on that title may be tenuous, however: He recently filed for divorce and will have to part with some of his billions.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…