Fund Of Funds Forsyth Goes Into Administration, Up For Sale

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.

In Depth

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel Supports Manhattan Real Estate With Record Deal

Sep 16 2015 | 3:04pm ET

Never count hedge funds out of a big property deal. The Manhattan real estate market...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note

Upcoming Events