The rain did not stop industry professionals from attending Hedge Funds Care’s 15th annual “Open Your Heart to the Children Benefit” last Thursday.
The forecast that evening was dreary but it certainly did not damper the mood of the annual gala. Approximately 1,000 senior executives from the hedge fund industry attended the event, which raised nearly $2 million to fund child abuse prevention programs in New York, New Jersey and Connecticut.
Paul Roth, a founding partner at Schulte Roth & Zabel LLP, was awarded the event’s Lifetime Achievement Award for his commitment to philanthropy over the years. Roth said in his acceptance speech that Schulte Roth & Zabel, which has a “longstanding relationship with Hedge Funds Care,” contributed 1,500 hours –worth an estimated $700,000-- of pro bono work over the last seven years.
Roth told eVestment that he felt “wonderful” for receiving the prestigious recognition and “honor[ed]” to have Hedge Funds Care president Dean Backer, who is also a partner at Goldman Sachs, recognize his achievement.
“Dean is one of the most respected people in the [hedge fund] industry,” Roth explained.
Founded in 1998, Hedge Funds Care has awarded over 930 grants totaling $33 million to programs focused on preventing and treating child abuse.