Monday, 26 September 2016
Last updated 22 min ago
Mar 9 2007 | 12:13pm ET
The partner of hedge fund manager Albert Hsu, the man who was charged with attempted kidnapping and sexual assault, says he has not had any contact with Hsu or Hsu’s attorney since his arrest on March 2, but assures that there are no immediate plans to close their fund of hedge funds, Anchor Point Capital, or to replace Hsu.
“It’s obviously a very difficult situation for Albert and we feel badly for him,” Tim Crowe tells FINalternatives. “It is much too soon to make those decisions [to replace him]. We have a great team of people that continue to operate the business.”
Crowe adds that the firm has been and will continue to be in touch with its investors but declined to comment on any redemptions that Anchor Point may have suffered in light of Hsu’s legal problems.
Hsu, co-founder and managing director of Anchor Point, allegedly went onto the Internet posing as his ex-girlfriend and described a fantasy of being abducted and raped, according to Ricki Goldstein, a deputy assistant state’s attorney. He also posted personal information about the unnamed woman, including her address and her travel schedule
At the hearing, Goldstein said that Hsu, “set the victim up to be kidnapped and raped.”
The 43-year-old Hsu—who has been placed on suicide watch by the judge—was arrested in his home in upscale New Canaan last Friday. Charges against the well-known fund manager include trafficking in personal identifying information, first-degree attempted kidnapping, third-degree sexual assault, first-degree reckless endangerment, criminal impersonation and second-degree harassment. His bail has been set at $1 million.
Hsu’s court appointed lawyer, Dawn Bradanini, reportedly said that Hsu is “thoroughly embarrassed” by his actions.
Before co-founding Anchor Point in 2005 with Crowe, Hsu served as the U.S. investment officer for the The Atlantic Philanthropies, a $3.8 billion, limited life foundation which he joined in late 2001. At Atlantic, Hsu was responsible for the U.S. based hedge fund investments which represented half of its $1.8 billion multi-strategy hedge fund portfolio in over 40 funds. Prior to that, Hsu was the director of investments for the Ludwig Institute for Cancer Research, a $1 billion foundation which he joined in early 2001.
From 1997 to 2001, Hsu was with the Xerox pension fund, managing half of the plan’s $10 billion in assets. Before that, he co-managed Commonfund’s Absolute Return Fund and Hedge Fund.
Hsu, who often speaks at hedge fund industry conferences, serves as chairman of the New Canaan Red Cross and is a former board member of the Vanderbilt YMCA. He has also reportedly been a Cub Scout leader.