Hedge Fund/PE Basketball Game; Entire Event Raises Over $700K for NYC Youth

April 20, 2008 |

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This is good stuff and the kind of thing the mainstream press should note about the hedge fund industry: there is a lot of philanthropy and generosity!

 Last night, corporate sponsors, New York Knicks alumni and NYC high school basketball players came together for a night of basketball at the 2008 11th Annual Net Gain Tournament hosted by Youth, I.N.C. The tournament, which was held at the Park Avenue Armory in New York City, raised money for the organization Youth, I.N.C. Youth, I.N.C.’s Net Gain Program provides court time for high school basketball teams whose schools do not have gymnasiums and gives athletes the opportunity to participate in projects that help improve their communities. Over the past 11 years, the event has raised over $3 million and has provided basketball court time to more than 2,000 NYC high school students. More than $700,000 was raised for last night’s event.

The event kicked off with the second annual Hedge Fund vs. Private Equity All-Star game, featuring some of the most prominent names in the Hedge Fund and Private Equity community and coached by New York Knicks legends Allan Huston and Walt Clyde Frazier.  For the second year in a row, the Private Equity team beat the Hedge Fund team - final score was 32-24.

Additional tournament details and stats can be found directly below. Photos from the event can also be downloaded directly from: http://www.imagelinkphoto.com/youthinc.

2008 11th Annual Net Gain Tournament Stats:

Private Equity vs. Hedge Fund All-Star Game - For the second year in a row, Private Equity beats Hedge Fund 32-24!!

*    Private Equity team led by Ted Virtue, MidOcean Partners and coached by Allan Houston, New York Knicks alumni
-    Ted Virtue, MidOcean Partners (Captain)
-    Rob Berner, CVC Capital Partners
-    Ron Blaylock, GenNx360
-    Rick Schnall, Clayton, Dubilier & Rice
-    Jacob Capps, Lion Capital
-    Luke Long, Thomas H. Lee Capital
-    Rick Schifter, Texas Pacific Group
-    Michael Beal, Morgan Stanley

*  The Hedge Fund Team included:
-  Marc Lasry, Avenue Capital Group (Captain)
-  Ryan Renteria, Karsch Capital
-  Andrew Fishman, Schonfeld Group
-  Funsho Allu, AIG Investments
-  Steve Cronin, Schonfeld Group
-  Kyle Neptune    
-  Kevin Draughon

Half court shoot-out winner - Darius Garland from Jacqueline Kennedy Onassis High School

Round-robin tournament (24 teams playing on 6 courts throughout the night) final championship game:

*   Wachovia vs. Bloomberg & Crestview
*   WINNERS: Bloomberg & Crestview
*   Final score 26 - 22

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