Friday, 27 March 2015
Last updated 5 hours 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.
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…