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.