Tuesday, 16 September 2014
Last updated 6 hours ago
Jan 3 2008 | 8:14am ET
Under new assault in the courts, Ritchie Capital Management is assuring its clients that its business is not in danger.
In a Monday letter to its investors, the Lisle, Ill.-based hedge fund denied that it is on the verge of insolvency, Crain’s Chicago Business reports. And it further denied claims made by two other hedge funds against it, saying it has provided ample information about the sale of assets of a failed fund.
The move by Benchmark Plus Management and Sterling Asset Management to force the Ritchie Multi-Strategy Global fund into bankruptcy is, Ritchie wrote, “premised on a number of false allegations and may cause further damage to the value of your investment.”
As for the contested 2006 sale of the Multi-Strategy fund’s assets to Reservoir Capital Partners, Ritchie said it had done nothing wrong. “We have spent countless hours in meetings, telephone conversations and e-mails responding to investors’ questions,” the letter reads. “We provided extensive information to the investors committee and their counsel in the course of the 2006 restructuring and the Rhone Reservoir transaction.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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