In Depth

Hedge Fund Managers Break a Sweat For a Good Cause

Aug 11 2006 | 12:00am ET

While hedge fund firms are known for making big bucks for their clients, they are also particularly good at raising money for charity. New York-based Alternative Asset Investment Management held its First Annual Hedge Fund Industry Charitable Squash outing in late May, in which well known money managers ran around, dripping in sweat, all in an effort to raise funds to build the single largest squash/academic facility in New York City.

The StreetSquash center will be located in Harlem and provide academic and squash instruction to local area children. The May 23rd Finals Night served as the culmination of weeks of self scheduled tournament play, including participants from Archeus, Aris Capital, Cadogan, DB Zwirn, DE Shaw, Investor Select, Level Global, Millennium, Optimal, Pequot, Quilcap, SLS, Stadia, Steadfast, Strategic Value Partners, Treesdale, Trinity Funds and Unigestion.

Highlights included exciting play between Eddie Fishman of D.E. Shaw & Co. and Rob White of Investor Select. What was slated to be simply exhibition play proved to be intense competition with furious rallies and brilliant shot making by both players.

However, more amusing than the rivalries was the players’ dress code, which could be deemed to be somewhat “retro” as the players were decked out in what looked to be squash garb, including sneakers dating back to the early 90s.

Another exciting match pitted Dave Ganek of Level Global against Charlie Parkhurst of Archeus Capital. Ganek, a former highly-ranked national collegiate player and captain of his team at Franklin & Marshall, brought his “A” game of aggressive shot making and strategic play. Simultaneously, Parkhurst, a former tennis player at Princeton and several time Club Champion in New York City, countered with raw athleticism and determination.

Other impressive play included that of Russell Echlov of Stadia Capital, Chetan Vig of Trinity Funds as well as Rory Held of SLS Capital and Parker Quillen of Quilcap.

The event was sponsored by Walter Glennon of Sotheby’s International Realty Hamptons practice and by Victor Park of Alternative Asset Investment Management.

Meanwhile, while managers are washing out their gym socks in preparation for next year’s event, those who don’t like to play can still help support StreetSquash by taking part in W. Quillen Securities’ Charitable Trading Day, which will be held in early November.

The independent research and trading firm that caters to the hedge fund community will donate all commissions per trade on that day to Street- Squash, as well as make an additional $500 donation to the not-for-profit organization for each new client that trades with the firm. For more information about StreetSquash, visit http://www.streetsquash.org/.


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