John McCain is closing the fundraising gap with Barack Obama, when it comes to contributions from private equity professionals.
The Arizona Senator raised $50,000 in the second quarter, according to a peHUB analysis of Federal Election Commission records. That trounces the $15,800 raised by Obama, who had bested McCain in all prior quarters. Moreover, a number of private equity pros helped raise Q2 money for McCain – with those figured not included in our calculations. One example of that was Steve Klinsky of New Mountain Capital, who helped raise an additional $28,500.
Overall it was the slowest quarter for private equity giving since the primary season began last year. Part of the problem may be that donors have already maxed out, while others might have been waiting until the Democratic race was over (which didn’t happen until late Q2). Expect another surge of contributions, particularly if McCain picks PE darling Mitt Romney as his running mate.
To date, Obama has raised $376,515 from private equity pros, while McCain has raised 231,071.
The peHUB analysis only included contributions from professionals at U.S.-based buyout firms with at least $500 million under management.