The Hedge Funds Care benefit gala at The Ritz Carlton, Grand Cayman on Saturday night raised hundreds of thousands of dollars for local charities that help prevent and treat child abuse and neglect.
Jewelry, fine wines and sports memorabilia sold for premium prices during the evening’s charity auction. The big-ticket item of the night, an Audi R8 sports car that was on display in the resort’s lobby, fetched $130,000.
The net profits from the $1,000-per-person dinner and the auction, which also included such items as U.S. Open golf tickets and a historic 16th century map of the Cayman Islands, were expected to run to several hundred thousand dollars.
The “Open Your Heart for Children Benefit,” whose guests included Police Commissioner David Baines, Finance Minister Marco Archer and Deputy Governor Franz Manderson, carried the theme “Diamond Decade” to mark the 10th anniversary of Hedge Funds Care Cayman. The organization has raised more than US$2.1 million for various charities since its inception.
The local charity is part of a global group with branches in six U.S. regions, as well as in Canada, the U.K., Ireland and Hong Kong.
Co-chairman of the Hedge Funds Care Cayman board of directors Geoff Ruddick, of International Management Service, told the crowd at the black-tie event. “We may not be able to personally go out and pay for that vital facility or that much-needed healthcare worker, but together we can.”
Among the organizations to benefit from the donations are the Cayman Islands Crisis Centre, the Nadine Andreas Residential Foster Home and the Health Service’s Authority’s Child Sexual Abuse Intervention and Treatment program.