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Long IslandPoliticsSpin Cycle

Robert Mercer, LI Cruz backer, to stay active in election

Robert Mercer, a hedge fund manager from East

Robert Mercer, a hedge fund manager from East Setauket, will keep spending money this election cycle on other candidates after his choice, Ted Cruz, quit the race, his super PAC's spokeswoman said on Wednesday. Credit: Patrick McMullan / Sylvain Gaboury

WASHINGTON — Long Island hedge fund executive Robert Mercer will keep spending money this election cycle on as-yet-to-be-determined candidates after his preferred presidential candidate, Ted Cruz, quit the race, his super PAC’s spokeswoman said on Wednesday.

Mercer, a Head of the Harbor resident and co-CEO of Renaissance Technologies in East Setauket, created the Keep the Promise I super PAC last year and sank $13 million into it to support Cruz, a Republican senator from Texas. It also donated $500,000 to a super PAC backing Carly Fiorina, a White House hopeful and Cruz’s VP choice.

The super PAC’s filing shows it spent $12.6 million of its $14.2 million war chest on ads, data and communications mainly to aid Cruz. Its last filing said that as of the end of March it had $1.6 million in cash on hand.

The future of the super PAC sounded a bit uncertain in the first email response by spokeswoman Kristina Hernendez to Newsday’s queries.

“To answer your question, our focus has been 100% on supporting Senator Cruz through the primary season. We are in the process now of closing out our obligations and communicating with our donors about how their money was spent and what do with any remaining funds,” Hernandez wrote.

About an hour later, Hernandez sent a follow-up email.

“Also, we would like to add that from the beginning we (Keep the Promise I) indicated we would support other candidates for federal office, while focusing primarily on supporting the Ted Cruz for President efforts. KTP I intends to continue operating throughout this election cycle and will determine which candidates to support and how to express that support in the coming months,” she wrote.

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