Big 5’s Brownstein Got Mariner Tips

Aug 10 2011 | 5:14am ET

The hedge fund manager that earned more than $5 million trading on confidential information has been identified as Bo Brownstein.

Brownstein is the founder of Denver-based Big 5 Asset Management. The son of a prominent Denver lawyer, he’s also the hedge fund manager referred to—but not named—as an unindicted co-conspirator in the criminal and civil charges against H. Clayton Peterson and Drew Peterson, according to published reports.

The latter, the former’s son and a money manager at Private Capital Management, allegedly passed tips about the impending acquisition of Mariner Energy—gleaned from his father, who sat on the company’s board of directors—to Brownstein. The two men are close friends, according to the criminal complaint.

Brownstein and Peterson are close friends, according to the complaint.

The Petersons pleaded guilty last week to fraud and conspiracy.

According to the complaints against the Petersons, Brownstein earned $4.6 million for Big 5, $130,000 for himself and $305,000 for his relatives. Brownstein has not been charged with any wrongdoing.


In Depth

Whisky Business: The Ultimate Liquid Alternative Investment

Sep 15 2014 | 7:02am ET

David Robertson knows his single-malt whisky—he was the Master Distiller at the...

Lifestyle

Hedgies Rock Out For Children's Charity

Sep 15 2014 | 8:40am ET

It's that time of year again—when hedgies trade in their spreadsheets for guitars...

Guest Contributor

Volkered: How Financial Sector Reforms are Creating Opportunities for Hedge Funds

Sep 16 2014 | 11:28am ET

New regulations have dramatically curtailed proprietary trading activity in investment...

 

Editor's Note

    Get A Sneak Peak Of The Alpha Pages

    Aug 25 2014 | 11:21am ET

    As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…

 

Futures Magazine

July/August 2014 Cover

In search of the ‘new normal’ at the Fed

The Federal Reserve keeps baby-stepping toward a “normalization” of monetary policy. But just what is normal?

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.