V.A. Candidate Faced Criticism For Hedge Fund Link

Jun 4 2014 | 8:35am ET

A possible nominee to lead the troubled U.S. Department of Veterans Affairs could face tough questions about his ties to a hedge fund.

President Barack Obama is considering Delos Cosgrove, CEO of the Cleveland Clinic, for the job, which opened last week with the resignation of Secretary Eric Shinseki following an internal review that found an agency rife with mismanagement, treatment delays and falsified records. But Cosgrove, an Air Force veteran and heart surgeon, comes with a bit of controversy of his own.

Cosgrove's links to hedge fund Foundation Medical Partners were criticized in 2005. The fund invested in companies that conducted studies at the clinic.

The controversy, which included another doctor involved with a different hedge fund, led the Cleveland Clinic to tighten its conflict-of-interest policy. An internal review criticized Cosgrove’s disclosure practices, but did not accuse him of any ethical violations.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR