||Tip-off (hedge fund team in navy blue)|
A team of hedge fund managers emerged victorious over a rival private equity squad at an annual charity basketball tournament to benefit “Youth, I.N.C.” a nonprofit that connects donors with small charities focused on helping disadvantaged youth.
The hedge fund squad, led by Rob Platek of MSD Capital, extended their winning streak to three years with a 15-11 triumph at New York University’s Coles Sports Center. Platek could be seen during the game fiercely boxing out his opponents and screaming “Traveling!” at the referees to no avail when an alleged infraction was not called. He credited the victory to the “gym rats” on his squad, who included representatives from GoldenTree Asset Management, Sandler Capital Management and Eton Park Capital Management.
Even while sweating it out on the court, the industry retained some of its trademark caginess: Most of the players refused to be identified by name or firm, with only four athletes officially listed on the squad. By contrast, the private equity team had 8 confirmed players from such firms as MidOcean Partners, TPG Capital and Pinebridge Investments.
After the 15-minute matchup, Platek admitted it was fun to stick it to the private equity folks yet again. But he hastened to add it was really all about the fundraising.“It’s nice to win but it’s a helluva lot more rewarding when you see all the kids we are helping out,” said Platek. His firm, MSD Capital, contributed $25,000 to the event, which was expected to raise more than $500,000 in total.
An added bonus: Platek said he was not expected back at the office afterward, despite the relatively early hour.
Related stories: Hedge funds net victory over private equity • Hedge funds victorious at charity basketball tournament • Hoops for charity