Joel Klein To Receive The 100 Women in Hedge Funds' Effecting Change Award

100 Women in Hedge Funds’ Board of Directors today announced that Joel Klein, Chancellor of the New York City Department of Education, will receive its 2009 Effecting Change Award at its New York Gala on November 18, 2009.

The 100 Women in Hedge Funds' Effecting Change Award is given to an individual who has made a difference in the area of the philanthropic theme for the year. This year 100 Women in Hedge Funds’ philanthropic theme is education.

Past recipients include Ken Langone, Julian Robertson, Carl Icahn, Gary Cohn, Ray Chambers, George Soros, and Hillary Clinton.

Announcing the decision, Lauren Malafronte, a Board member of 100 Women in Hedge Funds, and Director at Barclays Capital, said, "We are very pleased to honor Joel Klein with the Effecting Change Award. The impact that Joel has had in significantly enhancing the educational opportunities for children in New York is largely due to his consistent leadership and vision. His goals closely match those of 100 Women in Hedge Funds in a year when we also aim to truly make a difference in the field of education."

As Chancellor, Mr. Klein oversees the New York City Department of Education, the largest public school system in the United States, serving more than 1.1 million students in more than 1,600 schools with 1.1 million students, 36,000 employees, and a $21-billion operating budget. Before his appointment to Chancellor in 2002 by Mayor Michael R. Bloomberg, Klein was chairman and chief executive officer of Bertelsmann, one of the world’s largest media companies. Prior to that, Mr. Klein served as United States Assistant Attorney General in charge of the Antitrust Division of the U.S. Department of Justice.

When Mayor Michael R. Bloomberg appointed Mr. Klein, a graduate of New York City public schools, as the first Chancellor of the newly-reorganized Department of Education, he called the new Chancellor "a true leader who never shies away from the tough and sometimes controversial decisions that are necessary to implement change."

The 2009 Effecting Change Award will be presented to Mr. Klein at the 100 Women in Hedge Funds Gala in New York City on Wednesday, November 18, 2009. Net proceeds from the Gala will be presented to Computers for Youth (CFY), a national non-profit organization that helps low income children perform better in school. 100 Women in Hedge Funds' support will help CFY extend its reach to eventually serve 10,000 families per year. In addition, CFY will be able to build out its Affiliate Network, developed in response to requests for advice and assistance from organizations across the nation, and thereby broaden its reach to all 50 U.S. states.