As Capital Tonight first reported, Rye Town Supervisor and hedge-fund manager Joe Carvin is no longer seeking the Republican nomination to challenge Senator Kirsten Gillibrand this November.

"My number one goal in entering the race was to ensure that the Republican Party had a nominee capable of defeating Ms. Gillibrand in November," Mr. Carvin said in  statement this morning. "But in the last several days - after Ms. Gillibrand was ranked the most left-wing senator in America by National Journal and after she voted for higher gas prices by opposing the Keystone XL Pipeline - I believe any of the candidates in this race can beat her."

Mr. Carvin saw a substantial amount of oxygen taken up by Rep. Bob Turner's entry into the race, and, indeed, the two candidates even shared the same key political advisers.

Candidates who wish to be automatically placed on the Republican primary ballot this June need 25% of the weighted county vote at the state convention this weekend, and Mr. Carvin had been lacking in these endorsements compared to Mr. Turner and his two other rivals, Nassau County Comptroller and attorney Wendy Long. However, Mr. Carvin dismissed concerns that he may not have reached this threshold.

"I am one hundred percent confident that I would have received the 25% of the Republican delegate vote necessary to get on the ballot, but I am now comfortable that my party is well represented," he said.

"This has been a tremendously uplifting experience and I am extraordinarily grateful to all those around the state who have supported me in ways large and small over the past few weeks."

Whoever the Republican nominee is will face an uphill battle against Ms. Gillibrand in the general election. She soundly won reelection in 2010 has already raised $10 million so far for 2012.