Steve Cohen Republican Strategy
Steve Cohen, Managers & GOP Strategists Plan Midterms
Hedge fund titan Steve Cohen reportedly hosted a meeting with Republican party operatives and fellow hedge fund managers to plot a strategy for this year's November midterm elections. Attendees included Bruce Colver of Caxton Associates, Paul Singer of Elliott Management and Daniel Senor of Rosemont Capital, as well as Republican strategists. Cohen, the hedge fund billionaire, as well as many other hedge fund managers have swung to the right, leaning more toward supporting GOP candidates and away from the Democrats they used to support.
Kovner, Singer and Senor are long-time supporters of conservative causes.
Among hedge funds, Singer’s Elliott Management is the top contributor to Republicans so far for the 2010 election cycle, giving a total of $1.1 million away, 97% of it to the GOP, according to the Center for Responsive Politics, a non-partisan influence tracking group.
Cohen’s SAC recently switched allegiances, giving 93% percent of its total 2010 election cycle donations to Republicans (approximately $193,000 of $207,850) through August 1, according to CRP. By contrast, SAC gave 71% of $608,694 (about $432,000) to Democrats during the 2008 election cycle. Much of it went to Chris Dodd, senator from his home state of Connecticut, who was a primary candidate for President and head of the Senate Committee on Banking, Housing and Urban Affairs.
That switch is part of a broader trend of the hedge fund industry switching its allegiance to Republicans after donating heavily to Democrats in recent years Source
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