Monday, 22 December 2014
Last updated 25 min ago
Jul 27 2012 | 11:27am ET
A dispute among hedge fund managers turned deadly in South Africa yesterday.
Herman Pretorius allegedly shot and killed Basileus Capital CEO Julian Williams in Williams' Cape Town office last night. Pretorius then turned the gun on himself.
Williams and Pretorius were having a meeting, police said. The two men had sparred over an unlisted company, SA Superalloys. Williams served on the company's board, and Pretorius sold preference shares in the company. Pretorius was angered when SA Superalloys stopped paying dividends this year alleged that Williams may have funneled investors' money to Basileus, his private equity firm. Williams shot back that Pretorius was demanding dividends when Superalloys could not pay them to divert attention from his Relative Value Arbitrage Fund, an unlisted hedge fund.
Pretorius was due to meet investors north of Cape Town yesterday, but that meeting was cancelled due to the meeting with Williams, clients were told. It wasn't until today that investors received an unsigned e-mail from Pretorius' Abante Group telling them of the "sudden death of Herman Pretorius."
"We are currently assisting the police force with their investigation and will provide the necessary feedback to our investors as soon as possible."
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.