- Marshall Wace founders donate to opposing sides in campaign
- The men made 100,000-pound pledges in “personal capacity”
Paul Marshall and Ian Wace, co-founders of hedge fund Marshall Wace, disagree over whether the U.K. should remain part of the European Union. They gave 100,000 pounds ($147,000) each to different sides before Thursday’s referendum.
Marshall donated to Vote Leave Ltd., which is campaigning for the U.K. to quit the 28-member bloc, according to data released by the Electoral Commission on Wednesday. Wace donated to The In Campaign Ltd.
The donations were made in a personal capacity, according to a spokesman for the London-based firm, which was founded in 1997 and manages about $26 billion. The firm, which has 18 partners, has no corporate view on the issue, he said.
Financial News earlier reported the donations from Wace and Marshall.
Winton Capital Management’s founder David Harding earlier gave 3.5 million pounds to Britain Stronger in Europe, the biggest publicly-disclosed donation to either campaign by a hedge-fund manager.
Investors are piling money into bets on a victory for the “Remain” campaign. The pound surged to a five-month high and global stocks gained for a fourth day on Wednesday, with the U.K. benchmark stocks index erasing its monthly decline. Bookmakers have shortened their odds on a vote to stay.