Monday, June 13, 2011

Obama wooing hedge fund set for re-election

President Barack Obama is meeting with hedge fund managers to gain its financial support for his re-election.

Obama had a private meeting at the White House in March with a group of Wall Street figures including Paul Tudor Jones of Tudor Investment Corp., Highbridge Capital Management Glenn Dubin and York Capital Management James Dinan, according to an article in the New York Times.

Obama also plans to meet with several hedge funds managers this month on a New York restaurant.

Efforts to get more involved in the notorious come back into his election corner for 2012 is to stem the recent defections of some other great sponsors, reported the Times.

Among them are Sky bridge capital founder Anthony Scaramucci, a vocal Obama supporter in 2008 which has decided to fight for the Republican contender Mitt Romney.

Scaramucci became a critic of Obama, will start in September when he told his former law school classmate that he felt "like a game," referring to what many money managers think is Obama administration anti-business policy.

Also switching their donation alliances is Steve Cohen's SAC capital, third paragraph, Dan Loeb and AQR capital Director Cliff Asness.

Obama has recruited Orin Kramer of Kramer Spellman and Eton Park Capital Management Eric Mindich recover time donors from the hedge fund world, now sceptical about President. In addition, he also reach out to employees in its 2008 election opponent, Hillary Clinton, as Avenue Capital Group Marc Lasry.

During the 2008 election was over 70% of campaign donations from the hedge fund industry to democratic candidates.

Go to New York article

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