An organization formed by women in the hedge fund world announced Monday that it has helped delivered a record 10,000 backpacks to students in the tri-state area.
High Water Women said that more than 350 volunteers from the financial services industry participated in the 9th annual BackPack Drive, which raised more than $170,000 to help New York City kids prepare for the school year.
Hedge fund firms that participated in this year’s drive include Bill Ackman’s Pershing Square Capital and David Shaw’s D.E. Shaw, both based in New York.
Backpacks will go to children served by nonprofit partners and schools including the Child Center of New York, the Jubilee Center in Hoboken, N.J., and the Young Women's Leadership Network.
High Water Women was founded in 2005 by financial industry veterans such as Kathleen Kelley, portfolio manager at New York-based hedge fund Kingdon Capital Management. The organization has provided more than 36,000 school children with new backpacks since 2005.