Massachusetts Charges Two Firms in Forex Schemes
Massachusetts's securities regulator charged two unregistered offshore firms
for alleged foreign-exchange investment scams
. One of the cases involves allegations against two individuals who were sanctioned by the Securities and Exchange Commission for an alleged $34 million hedge fund investing fraud
involving 60 investors in 2007.
Credit Suisse Eyes Fund Of Funds Rock Creek
Credit Suisse Group is poised to buy fund of hedge funds
Rock Creek Group. The two sides are in advanced talks and a deal could come within 10 days, AR magazine reports. A deal for Rock Creek would give Credit Suisse a substantial institutional fund
of funds business. The Swiss bank's current fund of funds business, which has about $10 billion in assets under management, specializes in high-net worth clients
, especially those who already patronize Credit Suisse's private bank.
U. Michigan Adds Hedge Fund Golub To Portfolio
The University of Michigan's endowment has invested $25 million in hedge fund Golub Capital. The initial investment in Golub's Premium Earnings Adjustable Rate Loans (Pearls) Direct Lending Program "will further balance the university's investment pool for working capital risk exposures
and enhance returns by decreasing exposure to movements in interest rates
and increasing exposures to corporate credit and investment manager value added," Timothy Slottow, chief investment officer of the $6.6 billion pension, said in an internal memo.