A group of hedge fund managers will be hoping to salvage
their reputations as amateur athletes next Tuesday, when they
take on a team of private equity managers during a face-off on
the basketball court in aid of child-focused venture
philanthropy organization Charity Youth, I.N.C., which stands
for "Improving Non-profits for Children."
The hedge fund team will include Jeff Maniatty of MKP Capital
Benkovic of Sandler Capital Management and Jay McCareins of
Weiss Multi-Strategy Advisers.
This is the third time hedge fund pros have clashed with their
private equity rivals at the annual Net Gain Tournament, which
will be held this year at New York University to raise money to
provide basketball court time for students who attend New York
City public high schools that do not have a home court.
According to the Youth I.N.C. web site, "Teams, each
consisting of corporate and high school players, will battle it
out in a full-court, round-robin tournament for a chance to
become the Net Gain Tournament 2010 champions. This year's
celebrity coaches include New York Knicks alumni Walt "Clyde"
Frazier, John Starks, Charles Smith, and Buck Williams." The
evening features the "Hedge Fund vs. Private Equity All-Star
The hedge fund team has lost both previous encounters. Most
recently, the 2008 team captained by Avenue Capital founder
Marc Lasry was beaten 32-24 by the private equity team. On the
plus side, the event helped raise around $750,000 for the
charity. Now in its 12th year, the Net Gain Tournament has
raised about $3 million in total.
The games begin at 5:30 PM on March 16. To donate to Youth,
I.N.C., or for more information on the event, click