<!-- Swiftype Variables -->

Robin hood challenge

Hedge fund guru Griffin hopes to inspire others with donation

With his latest gift, Kenneth G. Griffin is challenging others.

Kenneth C. Griffin has made Chicago his home base, but he obviously has a big soft spot for the Big Apple's least fortunate citizens.

In late April, Mr. Griffin pledged $15 million from his charitable trust as a challenge grant to benefit the Robin Hood Foundation, New York, which seeks to alleviate poverty in its home city.

The latest gift from the founder and CEO of hedge fund manager Citadel LLC is intended to inspire other donors to give more to the foundation that helps New York's underprivileged communities by supporting local non-profit organizations.

“Robin Hood exemplifies the power of applying a venture capital mindset to philanthropy. Robin Hood's impact on New York City serves as an example for cities across America,” Mr. Griffin said in a statement.

Mr. Griffin is the first donor to have offered two challenge grants for the Robin Hood Foundation; his first was for $1 million in 2001. His donation record to the foundation spans 23 years and totals $24 million, including the most recent $15 million gift.

Among Mr. Griffin's other recent charitable gifts is $12 million for improvements to Chicago's lakefront bike path and $5.5 million to Chicago's Field Museum for development of a new traveling exhibit featuring fossil remains of Antarctic dinosaurs.

Citadel manages $26 billion in single- and multistrategy hedge funds.

This article originally appeared in the May 15, 2017 print issue as, "Griffin hopes to inspire others with donation".