Monday, 30 March 2015
Last updated 10 hours ago
Sep 14 2007 | 10:50am ET
Fund of funds shop Forsyth Partners is on its way out, going into administration and suspending its funds. Newly-appointed administrator Grant Thornton U.K. hopes to sell the business within the next two days, saying the funds themselves are in no trouble.
“The funds are absolutely fine,” Grant Thornton’s Steve Akers told Bloomberg News. “It’s the investment management business that got itself into trouble.” He said the firm “overstretched itself” by opening offices across the Middle East and Asia. London-based Forsyth, which manages US$1.2 billion, is owned by Dubai-based Forsyth Partners Group Holdings.
Forsyth has lost its licenses in both the U.K. and Dubai, the latter due to failure to meet capital requirements.
Chief Investment Officer Peter Toogood and his staff will continue to manage the firm’s assets.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…