Hedge fund manager Michael W. Vranos is hosting a concert with rock star Billy Idol as the headliner to raise at least $1 million to protect children.
The concert, which will be held Sept. 26 at Terminal 5 in New York, will benefit Help for Children Inc., a New York-based foundation created and funded by hedge fund and other alternative investment managers to prevent child abuse and offer treatment to victims.
Mr. Vranos, founder and CEO of credit specialist hedge fund manager Ellington Management Group LLC, Old Greenwich, Conn., said in an interview that he came up with the idea of a fundraising concert series — HFC Rocks — for the foundation in 2017 because "financial people like to let their hair down and have a good time."
Ellington and real estate manager Wheelock Street Capital LLC, Greenwich, Conn., are the primary sponsors of the event, which is supported by other alternative investment managers.
Renee Skolaski, HFC's executive director and CEO, said the foundation's work is especially timely given the attention focused on the Jeffrey Epstein scandal and his alleged sexual abuse of young girls.
The foundation also recently made a $35,000 grant to the Young Center for Immigrant Children's Rights, Chicago, which provides trauma treatment to unaccompanied and separated immigrant children, Ms. Skolaski said.
Tickets for the Billy Idol concert are available on the HFC website.
The HFC foundation has $53 million in assets.
Ellington Management Group managed $8.5 billion in structured products and other credit instruments as of June 30.