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HF Manager Waives Original Criteria to Street Artist

Oct 29, 2013
Jing Chen

Hedge fund manager Nelson Saiers is waiving his previous proposal to graffiti artist Banksy.

Saiers Capital chief investment officer Saiers, who previously offered to donate $100,000 to support Hurricane Sandy efforts in exchange that Banksy raise awareness of the catastrophe through hurricane-related pieces, said in a statement to the artist that he has decided to forgo the original proposition and will donate the money to help underprivileged children in Sandy-affected areas.

Saiers added in the letter that anonymous donors are waiting to see if the artist will accept the original offer before donating the additional $142,000 toward the Hurricane Sandy cause.

Saiers, a former Deutsche Bank managing director, is affiliated with charity: water which is a non-profit organization that brings clean and safe drinking water to people in developing nations.

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