Hedge Fund for Habitat goal $13M

The hedge fund industry has joined with Habitat for Humanity of New York to raise money and help working families achieve home ownership.
SEP 25, 2007
By  Bloomberg
The hedge fund industry has joined with Habitat for Humanity of New York to raise money and help working families achieve home ownership. Stuart Feffer, co-chief executive of Lacrosse Global Fund Services, a hedge fund with global offices, is looking to his industry peers to chip in for a $13-million green multifamily complex in the Ocean Hill-Brownsville area of Brooklyn. “Our initial goal is to help Habitat-NYC give 41 hardworking families a safe place to live, the opportunity to realize their dreams of home ownership and the ability to secure their future,” he said in a statement. “Hedge fund professionals know that investing in human capital is key to the success of our industry — and our city,” he added. The Hedge Fund for Habitat campaign will help underwrite the recruitment, selection and financial literacy training of the first-time homebuyers, as well as contribute funds to complete the condominium, which should be finished in 2009. Future homeowner families and volunteers will construct the four-story building. Donations are being accepted at habitatnyc.org/hedgefundsforhabitatnyc.

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