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Robin Hood Gala Raises More Than $56.5 Million In One Night

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The Robin Hood Foundation's annual gala, which collects millions of dollars from hedge-fund managers and gives it to New York charities, raised more than $56.5 million, the organizers estimated last night.

The lavish event in the cavernous Jacob K. Javits Convention Center attracted about 3,700 Wall Street executives and leaders from hedge funds and private-equity companies. The attendees included Kohlberg Kravis Roberts & Co. co-founder Henry Kravis and Pequot Capital Management Inc. Chairman Arthur Samberg. The performers included Shakira, John Legend and Sheryl Crow.

David Saltzman, Robin Hood's executive director, said in an interview at the Javits Center that the estimated total could be higher after all donations are counted as early as today. He said the evening's tally, at a time that banks are laying off staff, still showed an ``extraordinary'' display of generosity.

``Despite what's going on in the economy, people who are in a position to help others step up, and during tough times they step up even more,'' Saltzman said.

Read the whole story at Bloomberg