Obama bundler says he lost $25 billion of N.J. pension funds By Editor Hedge Fund millionaire Orin Kramer and Obama national finance director Julianna Smoot. A state pension fund headed by Kramer says they have lost $25 billion since July A New Jersey pension fund run by one of Barack Obama’s earliest and biggest campaign fundraisers/bundlers has lost $25 billion -- including $9 billion in October, according to a report issued today by a state panel. The New Jersey Investment Council, chaired by hedge fund manager Orin Kramer, says that the value of the state pension fund has shrunk from...