Doles Are Investors In Lehman Oil Hedge Fund

Sep 17 2008 | 11:50am ET

Oil is becoming a major issue in the surprisingly tight U.S. Senate race in North Carolina between incumbent Republican Elizabeth Dole and Democratic challenger Kay Hagan. But it’s also apparently a financial consideration for the senator, despite her claims to the contrary.

Dole’s husband, former Senate majority leader and 1996 Republican presidential candidate Bob Dole, has at least $1 million invested in an offshore Lehman Brothers hedge fund that invests in oil, gas and natural gas, Politico reports, citing Senate financial disclosures.

Dole has attacked Hagan, a North Carolina state senator, for her investments in oil wells and oil stocks. The senator also claimed that neither she nor her husband “own oil stocks,” which is technically true. But the couple did earn between $51,000 and $100,000 last year from their investment in the Lehman hedge fund, Strategic Commodities II.

Dole’s campaign, however, is sticking by its story, arguing that the first-term senator does not profit “directly from the increase in gas and oil prices.”

Recent polls show Hagan trailing Dole by less than 10 points, with the incumbent receiving less than 50% support.


In Depth

Q&A: Brevan Howard’s Charlotte Valeur Talks Strategy

Sep 18 2014 | 11:18am ET

Charlotte Valeur chairs the board of Brevan Howard Credit Catalysts, an LSE listed...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this race. The Citadel...

Guest Contributor

Top 5 Predicted Outcomes Of CalPERS' Hedge Fund Divestment

Sep 22 2014 | 8:35am ET

CalPERS’ announcement to divest of hedge funds has created a significant buzz...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

September 2014 Cover

The London Whale: Rogue risk management

Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.