Hedge-Fund Managers Help Raise $1.7 Million at Gala

In lighter news, Bloomberg reports that The annual Hedge Funds Care benefit - - backed by Kenneth Tropin and Michael Vranos -- will downsize from a black-tie dinner to a cocktail party tomorrow night in New York. The nonprofit, which aids child-abuse prevention programs, is hoping a laidback atmosphere will encourage some donors to write bigger checks -- and allow jobless hedge-fund managers to network while eating mini-hot dogs and shrimp instead of filet mignon.

Kathryn Conroy, director of the benefit said she expects Wednesday’s event at Manhattan’s Cipriani 42nd Street will raise about $1.7 million, down from $2.2 million last year. Hedge Funds Care branches in Atlanta, London, Toronto and other cities are scheduling separate fundraisers.

Shows that even in times of trouble, many Hedge Funders put kids first.