Monday, 20 February 2017
Last updated 2 days ago
Dec 19 2008 | 2:02am ET
Hedge fund managers and their charitable foundations are amply represented among the largest donors to former President Bill Clinton’s charity, according to a list of donors released yesterday.
While the focus has been on the foreign governments who have given generously to the Clinton Foundation—it is believed that the list was released as part of a deal between Clinton and his wife, Sen. Hillary Rodham Clinton (D-N.Y.), and President-elect Barack Obama allowing Sen. Clinton to be appointed Secretary of State—alternative investments players have also donated millions.
The Children’s Investment Fund Foundation, the charitable arm of the activist hedge fund shop, is one of just two donors to have given the Clinton Foundation more than $25 million. While it is perhaps best known for its rough-and-tumble activist investing, TCI also donates a portion of its profits every year to the charitable foundation, which has become one of the largest in the U.K.
Other hedge funders giving to the former president’s foundation include EIM Group’s Arpad Busson, whose Absolute Return for Kids gave between $1 million and $5 million, Tiger Management founder Julian Robertson’s foundation, which also gave between $1 million and $5 million.
Also giving at the $1 million to $5 million level was Robert L. Johnson, the Black Entertainment Television founder who now runs the RLJ Companies, which includes hedge funds and private equity among its ventures, and Sterling Stamos Capital Management, the hedge fund founded by New York Mets owner (and alleged Bernard Madoff victim) Fred Wilpon.
Quantum Fund founder George Soros’ charitable foundation gave between $500,001 and $1 million, while hedge fund Bay Harbour Management gave between $100,001 and $500,000.