Much ink has been spilled this campaign season about the influence of Wall Street on both major party US presidential candidates. The truth behind the headlines, however, is that the top executives in at least one powerful asset class have little loyalty to political parties, and are instead bifurcating their support between Hillary Clinton for president and several Republican contenders in fiercely competitive senate races.
With Election Day fast approaching, the Debtwire Investigations team dove deep into Federal Election Commission (FEC) documents to find out which candidates are recipients of campaign contributions from distressed fund managers. An analysis of the top 50 funds, ranked by Prequin based on assets under management, shows that the C-Suite of those distressed managers who aren’t sitting on the sidelines have overwhelmingly thrown their financial support behind Clinton. On the flip side, distressed debt tycoons are overwhelmingly supporting the GOP candidates in the competitive Senate races that will determine control of the chamber.
CLICK HERE to read the special report.