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. 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.