Hedge Fund Foundation Assets Top $3.5B

Date: Friday, July 27, 2007
Author: Hedge Fund Daily

Assets in the largest 25 foundations founded by current or retired hedge fund managers surged 76.8% to $3.52 billion, according to Absolute Return magazine. The survey also notes that contributions the top 25 saw an increase of 190% to $865 million. Leading the list of foundations is George Soros’ Open Society Institute with $858.9 million, followed by Tiger Management founder Julian Robertson’s Robertson Foundation. Rounding out the top five is Renaissance Technologies founder Jim Simons’ The Simons Foundation ($324.8 billion), retired HF manager Robert Wilson’s The Robert W. Wilson Charitable Trust ($166.8 billion) and Boone Pickens’ T. Boone Pickens Foundation ($135 million). The Soros foundation accounts for 27% of the total assets, and the $377.4 million it received is more than 40% of the total contributions. The leader among multiple-donor organizations is The Robin Hood Foundation, formed by Paul Tudor Jones, and recently making headlines for a now-discontinued practice of investing in hedge funds managed by board members. It has $215.4 billion in assets.