The glitterati of the hedge fund industry celebrated at the fifth annual Gala and Benefit sponsored by the 100 Women In Hedge Funds society, and raised in excess of $2.4 million dollar while enjoying the evening. The proceeds are targeted for the Teach for America organization, and a related group, Building with Books.
The black tie function was hosted on November 16 at the Cipriani restaurant in New York and also paid homage to two Hedge Fund industry professionals who set examples of activism to the field. During the dinner the contributions that were made to the industry by presented investors their commitment and work to change educational policies.
The noteworthy co-honourees received two awards. The 100 Women in Hedge Funds Effecting Change Award was presented to Carl C. Icahn, for his contributions to improving education. Anne Dinning, managing director of D.E. Shaw received the 100 Women in Hedge Funds Industry Leadership Award.
Teach for America, one of the organizations that will benefit from the proceeds, works to remedy the eliminate inequity in education found in the public school system in low-income areas. One goal of Teach for America is recruit more college graduates into its natural organization who will then become employed as teachers for two years in disadvantaged public schools that are set in urban areas and rural regions.
The other recipient, Building with Books focuses on performing community service in the inner-city and works with at-risk kids. Building with Books develops leadership programs to benefit this type of children and publicizes their plight to increase community awareness of the need for quality education around the world. The organization sponsors school building and funding programs developing countries. Another tenet of Building with Books is to engage students in the US to volunteer in community service, to aid the community and to build their self-esteem.
Additional activities included a live auction of donated items that brought in the bulk of the funds that went to the charities. These auction gems included 17 real estate lots in luxurious settings and a holiday for two persons on Corfu.
Several investment houses including D.E. Shaw & Co, Goldman Sachs, Tudor Investment Corp., and More Capital Management LLC contributed to the benefit together with individuals and other corporations to make the event and the auction a sterling success.
This evening's event brings the amount raised in the last 5 years by the 100 Women in Hedge Funds to $10 million. These proceeds have been distributed to organizations that aid education and women's health and mentor communities. The 100 Women in Hedge Funds is a worldwide organization that has been instrumental in effecting societal change and progress.
This organization is comprised by over 5,000 members who volunteer their fund raising efforts.