In December, “Tiger cub” Bill Hwang, founder of Archegos Capital Management, was sentenced to 18 years in prison for orchestrating what the U.S. Attorney’s Office for the Southern District of New York described as “massive market manipulation and fraud schemes.”
Background on The Grace and Mercy Foundation
However, despite his wrongdoings, Hwang is one of many hedge fund managers to establish a foundation through which to donate to worthy causes. According to its 990 for 2023, which was filed in November 2024, The Grace and Mercy Foundation had $663.5 million in assets at the end of the year. Hwang served as co-chairman and director of the foundation in 2023.
The Grace...
