Regulators Probe SAC Alum Grossman’s New Fund

Sep 22 2006 | 12:00am ET

Amaranth Advisors isn’t the only one awash in bad news this week. Former SAC Capital Advisors manager Thomas Grossman’s new hedge fund is facing probes on both sides of the globe regarding alleged funny stuff.

Bloomberg News reports that prying eyes want to know what’s up with some skyrocketing stock prices in several of Aeneas Capital Management’s portfolio companies. The Malaysian Securities Commission is probing the sudden price movements—especially that of Iris Corp., whose share price soared 270% after Grossman’s Aeneas took a 20% stake in it.
 
The report also said the Securities and Exchange Commission is getting involved. A lawyer returning calls for Aeneas, Kenneth Breen, told the White Plains, N.Y., Daily News that “Aeneas is cooperating fully with securities regulators.”


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