People in the News


Druckenmiller's good for Spence?

June 26, 2009  



Stan Druckenmiller

It's hard to get too teary about an exclusive Upper East Side school whose connections to an exclusive hedge fund have caused a small problem. Spence School is a Manhattan school for girls that has allocated about 28% of its $25.6 million endowment with Stan Druckenmiller's Juggernaut fund. That concentration level - which rose after Spence sold other assets - led Moody's Investors Service to downgrade the school's $15.3 million of municipal debt by one level to A1. Druckenmiller is the husband of a former Spence alumna and former trustee, Fiona Biggs Druckenmiller.


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