Common Cause NewYork

Playing the Influence Market

Analysis of Hedge Fund Campaign Contributions In New York State

 

A comprehensive analysis of the impact of the hedge fund industry on political giving in New York State: Playing the Influence Market. Common Cause/NY reviewed campaign finance filings from January, 2005-February, 2012 and identified 173 hedge funds and their executives as political contributors. The report reveals that hedge funds, hedge fund executives, and their immediate family members made 3,552 campaign contributions to state and local candidates in New York. These contributions amount to $23.4 million dollars. Only $500,000 of this money came directly from hedge funds as corporate donors. The rest came from the fund managers, executives, and immediate family members donating as individuals. Hedge funds have emerged in the last ten years and developed into major political donors as a result of their outsized compensation rates. However, unlike most other politically active industries, like real estate or healthcare, the vast majority of hedge fund industry contributions come from individual executives and their spouses rather than corporate PACs or trade organizations.

 

Report

 Playing the Influence Market: Analysis of Hedge Fund Campaign Contributions In New York State (April 2012)

Press Release

 Common Cause Releases Analysis of Hedge Fund Influence in NYS Politics (4-18-12)

Press

Wall Street Journal Article: Hedge Funds Use Donations to Boost Clout

WNYC: Who's Who in Hedge Funds: NY's Top 10 Political Donors

 

Additional Resources