Rich donors back gay marriage
By Matthew Garrahan
A group of wealthy pro-Republican hedge fund managers is backing efforts to legalise
same-sex marriage in four US states that will vote on the issue in November, as the
party’s more socially liberal donors try to regain ground ceded to social conservatives.
The campaign to win same-sex ballots in Maine, Maryland, Minnesota and Washington has
received financial support from Paul Singer, the hedge fund billionaire who is one of the
party’s biggest donors, and Cliff Asness, the founder of AQR Capital Management.
Dan Loeb, the activist investor who recently shook up the
management of Yahoo and Seth Klarman, the founder of
Baupost, the private equity group, are also backing the campaign. The four men have
donated money to Freedom to Marry, a non-profit group that aims to legalise same-sex
marriage, and have also contributed to American Unity, a super-political action committee
started by Mr Singer which will give financial support to Republican congressional
candidates that back marriage equality.
Ken Mehlman, a partner at KKR, the private equity group – and the former chairman of
the Republican National Committee – is also backing the same-sex marriage campaign.