Andrew Shechtel is a hedge fund manager and a co-founder of the major center-left funder Wellspring Philanthropic Fund (formerly “Matan B’Seter Foundation”).
Early Life and Career
Princeton-Newport Partners
Andrew Shechtel is an alumnus of Johns Hopkins University and graduated with a degree in math and political economy at the age of 19. Shechtel attended Harvard Business School and reportedly “worked on Wall Street” and joined Princeton-Newport Partners in the 1980s, an early investment management firm. He was an employee of the firm when it was raided in the 1990s by federal officials investigating alleged violations of the Racketeer Influenced and Corrupt Organizations (RICO) Act. Shechtel was not charged. 5
David Gelbaum retired from TGS in or around 2014, leaving Shechtel and Taylor to manage it. He and his wife reportedly ceased their philanthropic giving in 2013. According to Gelbaum’s lawyer, as reported by the Algemeiner, he “lost more than he thought he could possibly lose” during the 2008-2009 financial crisis. 0){
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