Robin Hood Ends Disputed Investments
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A New York charity that was criticized by lawmakers for investing in hedge funds run by board members and donors, the Robin Hood Foundation, said it would stop the practice.
Robin Hood’s executive director, David Saltzman, said in a letter to donors today that the charity had created a contingency fund that was “prudent, responsible and in keeping with best practices.” The decision to remove assets from hedge funds run by people connected to the charity was made to avoid “even the appearance of any conflict,” he said.
