||Tip-off (hedge fund team in navy
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
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.
Hedge funds net victory over private equity •
Hedge funds victorious at charity basketball tournament
Hoops for charity