Sunday, 29 November 2015
Last updated 1 day ago
Sep 9 2013 | 10:00am ET
Common Sense Investment Management may insist that CEO James Bisnenius' arrest in a prostitution sting is merely a "personal matter," but at least two of its clients appear to disagree.
Two public pensions with roughly $170 million combined at the $3.8 billion firm have terminated it in the wake of Bisenius' arrest last month. The Cincinnati Retirement System on Thursday voted to terminate the fund of hedge funds manager and redeem its $100 million, while the Fresno County Employees' Retirement System moved to pull about $68 million.
Both pensions made the decision following Bisenius' arrest on Aug. 1 in Oregon as part of a sting operation that netted nine alleged johns in the Portland suburb of Tigard. Common Sense, whose majority owner is Bisenius' wife, said that Bisenius would remain the firm's CEO and chief investment officer.
For its part, Fresno had already placed Common Sense on watch. The pension elected to terminate as a result of performance, a planned change in direction and the news of Bisenius' arrest.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…