Hedge Fund Donors Support Pro-Booker Super PAC

Posted October 8, 2013 at 11:46am

The U.S. Supreme Court is hearing arguments today on an individual’s aggregate contribution limit, but for those giving to a super PAC making independent expenditures, there is no contribution limit.

The Mobilization PAC, a Democratic-oriented super PAC, has filed a third quarter report disclosing $187,564 received from 7/25 to 9/26. The major donors included four closely connected individuals involved with hedge funds. Edward Nicoll, former CEO of Instinet, and now chairman of Structural Wealth Management, gave $137,564. He is also a director of Gerson Lehman Group, whose CEO, Mark Gerson, gave the Mobilization PAC $12,500. Richard Gerson, chairman of Falcon Edge Capital gave $12,500. Richard Gerson had previously worked with John Griffin, president of Blue Ridge Capital.John Griffin gave $25,000 to the Mobilization Project.

During the period, the PAC made $458,835 in independent expenditures supporting U.S. Senate candidate Cory Booker, D-N.J. This included $355,000 paid to Block by Block for a canvassing operation; $75,000 to Switchboard for telephone calls; among others. For the year, the PAC has spent $532,447 making independent expenditures supporting Booker.

Earlier contributors to the super PAC included $100,000 from Michael Fux (Comfort Revolution); $100,000 from Seth Klarman (Baupost Group); $100,000 from Ravenel Curry (Eagle Capital Management); $50,000 from Andrew Tisch (Loews Corp); and Laurie Tisch (Illumination Fund).