Opalesque Industry Update -
Hedge fund industry demonstrates commitment to preventing and treating child abuse and neglect in New York City, Westchester, Connecticut and New Jersey|
Hedge Funds Care 12th Annual New York Benefit gathered over 1,100 hedge fund investors, service providers and investment managers and raised over $2 million for carefully screened programs that prevent children from being abused and treat those who have already been abused.
Hedge Funds Care, a global non-profit organization which raises funds and awareness within the hedge fund industry for programs that prevent and treat child abuse, announced today that its 12th Annual New York Open Your Heart to the Children Benefit raised over $2 million. Supporters, sponsors and industry luminaries gathered on February 25th, 2010 at Cipriani 42nd Street to demonstrate that the hedge fund industry continues its leadership in philanthropic giving.
The Co-chairs for the event were Dean C. Backer, Managing Director, Goldman Sachs and Richard H. Baker, President, Managed Funds Association. CNBC anchor and reporter Trish Regan served as master of ceremonies. The event featured a gala cocktail reception and the presentation of the Hedge Funds Care Award for Caring to Liya Kebede, for her efforts to improve health conditions for women and children around the world, and Michael E. Novogratz, President of Fortress Investment Group, for his corporate and philanthropic leadership. Lee Daniels, Director of the film, Precious: Based on the Novel Push by Sapphire, received the Hedge Funds Care Founder's Award.
"Braving a snow storm, more than 1,100 industry leaders joined in support of the vital work of Hedge Funds Care. This ongoing generosity will truly empower New York area programs focused on producing a lasting difference in the lives of our children," stated John M. Budzyna, President and Chairman of Hedge Funds Care.
Since the first benefit in 1998, Hedge Funds Care has awarded over 600 grants totaling $21 million in the United States and abroad. In 2009. the New York benefit raised $1.3 million, which supported 30 organizations that address child abuse in the tri-state area. Due to the economic downturn, many more organizations are in need of funding for their vital services. The success of the New York Benefit means that Hedge Funds Care is in a position to provide increased support in 2010.
Hedge Funds Care is an international charity whose sole mission is preventing and treating child abuse. This mission is accomplished by raising money and awarding grants in 11 major cities in the United States, Canada, the Cayman Islands, and the United Kingdom. Hedge Funds Care awards grants to organizations that prevent child abuse through education, research, and advocacy, or that treat abused children. SBlaker@HedgeFundsCare.org