The Washington Post

Pro-Cuccinelli PAC gets $500,000 donation from New York hedge fund executive

A New York hedge fund titan has kicked in $500,000 to boost the campaign of Attorney General Ken Cuccinelli II against businessman Terry McAuliffe, the latest sign that the Virginia governor’s race will be a magnet for outside cash.

Robert L. Mercer, the co-chief executive of the East Setauket, N.Y-based hedge fund Renaissance Technologies, gave a half-million dollars last week to Virginia Principles Fund, a newly-formed political action committee. The PAC, based in Chesapeake, has reported no other donors so far.

A message left at the PAC’s contact number had not been returned as of this posting. A spokesman for Mercer declined to comment on the donation. The Virginia Public Access Project, which first noted Mercer’s contribution, reports that “[o]fficials with the PAC told VPAP that its sole purpose is to elect Cuccinelli.”

Mercer has given generously to a wide variety of Republican causes and was one of the biggest GOP donors of the 2012 cycle, giving at least $5.4 million to outside groups, according to the Center for Responsive Politics. Mercer’s activities included funding negative ads against Rep. Peter A. DeFazio (D-Ore.) via Concerned Taxpayers for America, a super PAC.

McAuliffe, the former Democratic National Committee chairman, has consistently outraised Cuccinelli, so money from outside groups could help even the financial balance of power in the contest.

The Freddie Gray case

Please provide a valid email address.

You’re all set!

Campaign 2016 Email Updates

Please provide a valid email address.

You’re all set!
Comments
Show Comments
Most Read

local

virginia-politics

Success! Check your inbox for details.

See all newsletters

Close video player
Now Playing

To keep reading, please enter your email address.

You’ll also receive from The Washington Post:
  • A free 6-week digital subscription
  • Our daily newsletter in your inbox

Please enter a valid email address

I have read and agree to the Terms of Service and Privacy Policy.

Please indicate agreement.

Thank you.

Check your inbox. We’ve sent an email explaining how to set up an account and activate your free digital subscription.