Hedge Fund Execs Support Boris Johnson As Next PM - Reports

Hedge funds back Boris in race to be UK's next PM

Boris Johnson and Jeremy Hunt have received the financial backing of executives from hedge funds and traditional investment groups with the next UK Prime Minister set to be selected by 160,000 Conservative Party members this week.

Johnson has received the lion's share of donations in his bid for leadership, the result of which is set to be announced on 23 July, with several backers having been financial supporters of the 2016 referendum's Leave campaign, according to the FT.

The donations, which are primarily from hedge fund managers, come despite past remarks from Johnson who reportedly said "f*** business" in response to questions on the post Brexit future for UK companies.

Partner at metals hedge fund RK Capital David Lilley, who previously donated £100,000 to the Leave campaign, has given £15,000 to Johnson, the MP's register of financial interests reveals.

Jon Wood, founder of SRM Global, has donated £75,000 worth of funding, while Johan Christofferson, founder of Christofferson, Robb and Co, has donated £36,000.

Elsewhere, Johnson has drawn funding from managing partner at Melbury Capital Jamie Reuben, who donated £50,000, and Alex Wilmot-Sitwell, a partner at the boutique investment bank Perella Weinberg, donated £5,000.

Meanwhile, Montanaro Investment Managers chief Charles Montanaro has donated £8,000.

Explaining his support, Montanaro told the FT: "I was happy to make the contribution in my personal capacity to Boris Johnson's campaign because, after careful consideration, I am convinced that he is the best person to negotiate and deliver Brexit.

"He has a compelling and optimistic vision for the UK that I share. I believe that our country is bursting with talent and creativity that has the potential to thrive alongside Europe rather than solely within it."

Meanwhile, despite lower levels of support, Hunt has managed to attract donations from Peter Wilson's Moulsford Capital, which provided office space worth £8,945, while Andrew Law of Caxton Associates pledged £10,000, having previously given £200,000 to the Remain campaign.

Wilson, who has known Hunt for 30 years, told the FT that he admired the candidate's "values, work ethic, professionalism, and most importantly believed that in an increasingly competitive global economy the UK needed leadership with an entrepreneurial background and an understanding of the important role business plays in creating jobs and wealth for our society".

Meanwhile, chief executive of BNY Mellon boutique Alcentra David Forbes-Nixon, who is also a personal friend of Hunt, donated £10,000.

The post-crisis alternatives boom: Investors warned to 'approach with caution'

Finally, emerging markets specialist Mohamed Amersi has donated £10,000 each to Johnson and Hunt, having previously committed similar amounts to earlier contenders Rory Stewart and Michael Gove.

Amersi said: "I decided that whoever came to my door with a smile and a compelling story to tell I would give my support to.

"I want whoever wins to unite the country, first and foremost.

"In terms of offering stability and ideas, Jeremy has the edge. In terms of charisma, it's probably Boris."

RECENT NEWS

When The Wave Turns

Why Retirement Investing Is Moving Towards Resilience Jeremy Grantham’s latest market warnings have revived an old tru... Read more

Gyrostat Capital Management: July Retirement Portfolio Resilience Assessment

The Market Is Currently Presenting an Opportunity to Strengthen Retirement Portfolio Resilienc... Read more

The Invisible Risk That Decides Your Retirement

Why how investors behave matters more than what markets do and what disciplined port... Read more

Gyrostat Capital Management: The Missing Allocation In Retirement Portfolio Construction?

For decades, retirement portfolios have largely been constructed using combinations of growth assets a... Read more

When The Gate Comes Down

A Stress Test Rather Than a ScandalApollo Debt Solutions is not a blow-up story. It is something arguably more instructi... Read more

What If The Investment Industry Is Benchmarking The Wrong Things?

  Investment management is built around benchmarking.  Fund managers compare themselves a... Read more