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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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'12-12-12' Funds Put to Work

Jan 02, 2013
Jing Chen

Hedge fund-backed charity organization the Robin Hood Foundation is putting the money raised from its nationally televised Superstorm Sandy relief concert earlier this month to work.

The Associated Press reported that more than 160 organizations benefiting victims of Superstorm Sandy have received shares of the $67 million raised from the “12-12-12” concert, which featured acts such as Bruce Springsteen, the Rolling Stones, Kanye West and Alicia Keys.

Some of the grant recipients include numerous food pantries in New York and New Jersey. A church in New Jersey also got $25,000 so it could install showers and beds for volunteers, while another group received the same amount for making storage space available for families that need a temporary place to put their possessions.

Founded in 1988 by hedge fund manager Paul Tudor Jones, Robin Hood has raised a total of more than $1.1 billion to combat poverty in New York City.

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