Hedge Funds Donate To Worthy Cause

Executives and supporters of Help for Children (HFC) pose for a photo at the 2023 Annual Gala held at the Plaza Hotel in New York City. 

The non-profit organization Help for Children (HFC) recently held their 2023 Annual Gala at the Plaza Hotel in New York City. In attendance were leading hedge fund professionals from the metropolitan area alongside notable firms including DE Shaw, KPMG and CITCO.

HFC President Dean Backer delivering his keynote address to the gala’s attendees. 

The benefit organized by HFC President Dean Backer was held to help raise funds for the organization which combats against child maltreatment. Throughout the evening, over $1M dollars in capital was donated from the event’s attendees stemming largely from Wall Street and the hedge fund sector. Backer, an esteemed Goldman Sachs executive, called HFC “the charity of the alternative investment community”.

Founded in 1998, by finance veteran Rob Davis, HFC has now invested more than $58M into its mission since inception and helped transform the lives of more than 1.1M children and families. Davis, a well-regarded hedge fund executive once commented “This is the most philanthropic industry on the planet…but you almost never hear about it.” As was the case this particular evening as the donations made went largely unnoticed and without special announcement. 

HFC Founder Rob Davis posing for a photo at the 2023 Annual Gala held at the Plaza Hotel in New York City.

Throughout the evening, a fundraiser was held with numerous auction items on display. The items consisted of a number of luxury specialities from trips to Paris, Bali and Bahamas to meet & greets with cast members from the Sopranos, tickets to a Billy Joel concert as well as tickets to a New York Knicks game. By the end of the evening, most of the items on display were quickly auctioned off to the guests in attendance. HFC Executive Director Sumudu Waas said “without the support of the alternative investment industry we would not have been able to give out $58M dollars over 25 years and change the lives of over 1M children and families.” 

Waas went on to add that HFC originally started fundraising in the hedge fund sector due to the close ties of its original principals. But in recent years has also branched out to other avenues of the alternative investment industry including private equity and real estate asset management. With monies raised thus far, HFC has already received 38 LOI’s this calendar year and plans to allocate more capital to local nonprofits throughout its10 locations spread across the United States.