Cuomo Turns to Hedge Fund and It Pays Off

The New York Times reports:

Two years ago, Andrew M. Cuomo put more than half of his campaign treasury into a hedge fund, making him one of the few New York politicians to invest campaign money in anything riskier than a sure bet.

In the case of Mr. Cuomo, the Democratic candidate for attorney general, the hedge fund was directed by one of his largest financial backers, a man who also handled Mr. Cuomo’s personal money. The investment of $750,000 turned out to be all upside, with a return of nearly 20 percent after one year.

Mr. Cuomo’s experience is a rarity in an arena where most campaigns, focused on their short-term needs, keep their money in conservative vehicles like savings accounts.

Capital goes where it can get the highest return.