Photo: Julia La Roche for Business Insider
A bunch of private equity and hedge fund professionals suited up and broke a sweat last night when they faced each other man to man on the basketball court.More than 150 Wall Streeters, along with New York Knicks legends and hundreds of high school students, participated in the charity basketball tournament hosted by Youth, INC.
In this year’s highly anticipated “Net Gain Tournament”, the hedge funders defeated their private equity rivals for the third year in a row. The final score was 15-11.
“It’s a great event to give back to these kids and their community,” MidOcean Partners’ Ted Virtue, the private equity team captain told Business Insider, adding, “It’s a really fun event. It’s a great way to combine a lot of people who are passionate about playing basketball and working for kids.”
“Winning or losing doesn’t make a difference,” MSD Capital’s Rob Platek, the captain of the hedge fund team, said. “The first year we wanted to win. Now we just want to participate because it’s a great charity.”
Of course, despite who wins or loses the game, the tournament has been a success for all of those involved. Since its inception fourteen years ago, the Wall Streeters have helped raise more than $4.5 million for Youth, INC. Last year, the event raised more than $550,000.
New York Knicks (L-R) -- John Starks (Shooting Guard, 1990-1998), Geoff Huston (Point Guard, 1979-1980), Mel Davis (Forward, 1973-1976), John Wallace (Forward, 1999-2000), Anthony Mason (Power Forward, 1991-1996)
Private Equity Team -- Front: Elias Dokas (MidOcean), Second Row L-R: Unknown, Ted Virtue (MidOcean/ Team Cap't), Mel Ike (TPG Capital), John Hughes (Pinebridge Investments), Back Row L-R: Earl 'The Pearl' Monroe (Knicks, 1971-1980), Mel Davis (NY Knicks 1973-1976), Garry Munson (Whitney Capital), Stratton Heath (Oak Hill Advisors), Jacob Capps (Lion Capital), Jamie Sholem (TPG), Kevin Weeks (BofA Merril Lynch), John Wallace (NY Knicks 1999-2000)
Hedge Fund Team -- (L-R) Michael Tobin, Michael Weinstein, Lamont Jones (MSD), John Starks (Knicks, 1990-98), Geoff Huston (Knicks, 1979-1980), Rob Platek, (MSD, Team Cap't), Simeon Etta (GoldenTree Asset Management, Brent Benkovic (Sandler Capital),
Hedge fund team member Simeon Etta (GoldenTree Asset Management) gets ready for tip off against the private equity team's Kevin Weeks from Bank of America Merrill Lynch.
After fourteen minutes of playing, the final score was 15-11 with the hedge fund team claiming victory.
The hedge fund team will get to keep this perpetual trophy again for the next year. They better watch out. We're told the private equity team is going to practice more before next year's game.
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