A group of hedge fund pros went a long way toward redeeming
the industry’s basketball bona fides on March 16
when they beat a group of private equity rivals at the Net Gain
Tournament in New York.
This is the third time hedge funds have been pitted against
private equity firms at the annual charity event, which raises
money for child-focused venture philanthropy organization
Charity Youth, I.N.C., which stands for "Improving Non-profits
for Children." Both previous meetings, in 2007 and 2008, have
led to defeat for the hedge fund team. This time, though, the
hedgies romped home to a 27-11 victory.
The hedge fund team consisted of captain Jeff Maniatty of MKP
Capital Management, Ben Parks of MKP, Brent Benkovic of Sandler
Capital Management, Jay McCareins of Weiss Multi-Strategy
Advisors and Matthew Stehle of Glenview Capital
The evening, which also featured a round-robin tournament,
raised nearly $350,000 to provide basketball court time for
students in New York City public high schools that do not have
a home court.