When BlueCrest Capital Management LLP founder Michael Platt expanded into stocks this year to compete with Millennium Management LLC and SAC Capital Advisors LLP for traders, he tapped an unusual funding source: his banks.
Absolute Return for Kids, the charity founded by hedge fund investor Arpad Busson, raised 14.5 million pounds ($23.4 million) in London last night, 2.7 million pounds less than last year, as the hedge fund industry struggles to pare losses due to the European sovereign debt crisis.
Greg Coffey was described by Louis Moore Bacon as “one of the most impressive traders in the world” when the billionaire founder of Moore Capital Management LLC hired him in 2008 to help manage his hedge funds. His investment performance since has been subpar.
Absolute Return for Kids , the charity founded by Arpad Busson , raised 14.1 million pounds ($20.5 million) last night in London, topping its 10 million pound target, as guests including Queen Rania of Jordan and rock group the Killers urged financiers to donate for children.
On a Thursday night in May, Arpad Busson danced atop a white sofa, a cigarette in his hand, as the Pet Shop Boys performed their 1980s hit “West End Girls” at his annual hedge-fund charity gala in London.
Prince William and the Kings of Leon helped Absolute Return for Kids raise 17.2 million pounds ($28.1 million) at the charity’s 10th annual dinner in London last night, a sign that the hedge-fund industry continues to recover from the global recession of 2008.