Political donations from hedge funds have reached record highs this campaign season, but finding somebody to talk about the trend was harder than expected, writes Nancy Marshall-Genzer for Marketplace, a production of American Public Media.
However, after numerous rejections and non-returned calls from other managers, Ted Peters, Chairman of Bluestone Financial Institutions Fund, agreed to talk to Marketplace.
Peters, who is also a co-founder of Elliott Management, runs a couple of different funds from its Wayne-based office, including a hedge fund with about $90 million under management.
While he admits to not being a big player in the hedge-fund world, Peters has made campaign contributions of around $10,000 a year to moderate candidates from both parties for the past 15 to 20 years. His contributions ensure that the members of Congress he donates to will take his calls and agree to meet with him.
Unlike Peters, big hedge-fund managers are donating in the millions, already exceeding $80 million this campaign season. This is a 50 percent increase from the same point in the last presidential campaign as they try to stave off more government regulation and taxes.
Read more from the interview at Marketplace by clicking here.