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Hedge Funds Targeted By Teachers Union

Apr 18, 2013
Jing Chen

A slew of hedge fund firms have been targeted by the American Federation of Teachers.

In a report set to be released Friday, the teachers union listed nearly 35 hedge fund firms and managers that it claims profit from pension fund investments while simultaneously supporting groups that attack traditional pension plans.

One of the more popular groups supported by the industry is StudentFirst, an educational reform group which the AFT says wants to get rid of pension plans. New York-based ThirdPoint founder Dan Loeb and Tudor Investment Corp. founder Paul Tudor Jones are both directors of StudentsFirst New York and have funded the organization’s New York political activities.

Other hedge funds listed that AFT said to have supported groups that want to end traditional pension plans include Appaloosa Management, Tiger Global Management, AQR Capital Management and K2 Advisors.

Reuters also reported that Loeb canceled his appearance at an investor conference on Thursday due to the report on his stance on pension plans.  In a letter addressed to the conference, Loeb insisted that he has “never taken a position against [defined pension] plans."

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