Hedge fund titans spent a lot of money—millions of dollars in some cases—on candidates and measures in the 2014 midterm elections. Here’s a look at the bets that panned out.
Paul Singer, founder, CEO, and co-chief investment officer for Elliott Management
Steve Marcus / Reuters
Some of the biggest donors to political campaigns to emerge in recent years are hedge fund managers, with some throwing a cool $1 million here, a couple million there, at issues and candidates they—or, increasingly, their industry comrades—support.
Out of this growing pool of big hedge fund donors, Elliott Management's Paul Singer, Third Point's Dan Loeb, Pershing Square's Bill Ackman, and AQR's Cliff Asness, among others, have emerged as some of the biggest donors, with Singer rallying hedge funders to give to his Political Action Committees, Loeb tirelessly pressing for education reform measures, and Ackman backing Cory Booker in recent years.
It appears 2014 was no different, with a number of hedge fund titans cutting checks to PACs, ballot measure campaigns, and individuals running in the midterms, betting big that the outcomes of these races will fall in favor with their causes, be it a philanthropic, personal, or even investment cause.
And the bets mostly paid off. Here's a look at the causes and candidates that emerged victorious yesterday, thanks in part to hedge fund dollars.
Steve Marcus / Reuters
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