Kapstream plays some Fundraiser’s Poker Poker is a game which seems to come naturally to most funds managers. The skills it demands – good mathematics, psychology, an appreciation of risk and reward – are usually used to get on the right side of a trade in a cutthroat market, but recently they were directed toward a great cause when bond boutique Kapstream held its second annual Texas Hold’em Charity Night in Sydney. With the help of many of its investment bank suppliers, Kapstream was able to raise A$26,000 for Bear Cottage, a non-profit organisation dedicated to caring for young children with lifelimiting illnesses. In the past two years, Kapstream has raised over A$40,000 for Bear Cottage. The evening was attended by over 120 people, and as can be seen from the photo was keenly competed to the end. The winner was the bloke that Kapstream founder Kumar Palghat can be seen hovering above, in the lairy leopard print hat that no doubt did its bit to distract fellow players. It’s testament to the spirit of the evening that the winner was even a fixed income competitor to Kapstream – Duncan Robertson, the managing director of Babson Capital Management.
Millionaire’s Factory meets Skid Row We hear that Macquarie Bank donated a bunch of its corporate umbrellas last month to The Wayside Chapel, legendary source of succour for the rough sleepers and walking wounded of Sydney’s Kings Cross. Works on three levels. First, as a good deed for a great cause (www.thewaysidechapel. com.au to learn more); second, as a beautifully incongruous sight when Wayside’s clients actually use their gifts; and third, as a not-halfbad billboard for the high net worth individuals who make up the other half of the Kings Cross population.