Hedge Funds Launch Effort to Boost Image as D.C. Scrutiny Mounts

Hedge funds have long stayed out of the political fray. Now, as lawmakers and regulators increasingly put the firms in their sights, the secretive industry is reversing course.

The main hedge fund lobbying group -- which represents 135 funds including Citadel, Elliott Management Corp. and Renaissance Technologies -- is launching a multi-million dollar campaign Thursday to better explain to Washington what its members actually do.

Dubbed “Investing in Opportunity,” the effort will feature online advertisements, videos and a new website that highlights the private partnerships’ work for charitable foundations and other non-profits in every U.S. state and congressional district. ...