Friday, 30 January 2015
Last updated 3 hours ago
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.”
Whether or not Aeneas is guilty, it’s already suffering. Four Malaysian companies it has big stakes in took a dive when reports of the investigation hit.
Aeneas specializes in emerging markets strategies and has $400 million in assets under management.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…