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Pro-Clinton PAC raises $9.9 million in July, gets $3 million from hedge funder

A super PAC backing Hillary Clinton's presidential bid raised nearly $10 million in July, getting a $3 million chunk from hedge fund manager Donald Sussman.

The organization, Priorities USA Action, reported it had $38.7 million on hand at the end of July, according to filings with the Federal Election Commission. It spent about $11.4 million for the month.

Democratic presidential nominee Hillary Clinton speaks at Futuramic Tool & Engineering in Warren, Michigan August 11, 2016.
Chris Keane | Reuters
Democratic presidential nominee Hillary Clinton speaks at Futuramic Tool & Engineering in Warren, Michigan August 11, 2016.

The PAC is separate from the Democratic presidential nominee's campaign committee and cannot coordinate with it. But it has funded pro-Clinton ad campaigns and other efforts.

Sussman, the president of Paloma Partners Advisors, has now given $8.5 million to Priorities USA Action. Paloma is a $4 billion hedge fund based in Connecticut that had an 11 percent return in 2015,according to Reuters. He has a history of giving to Democratic candidates and groups.

The PAC also received $3 million in July from Daniel Abraham, the founder of Slim-Fast.

Clinton's ties to big-ticket donors and the investing community have opened her to criticism from both her opponent Donald Trump and the progressive wing of her party.