Saturday, 28 February 2015
Last updated 1 day ago
Sep 8 2006 | 12:00am ET
Its new hedge fund risk ratings service is just getting off the ground, but Moody’s Investor Services said this week that it has already rated a pair of hedge funds. The firm said its goal was to rate another 20 funds by the end of the year.
Only one of the two rated funds, Sorin Capital Management, agreed to have the Moody’s assessment revealed. After four Moody’s professional dug into the firm’s offering memoranda, audited financial statements and service agreements, and paid an on-sight visit to the firm, the ratings agency gave Sorin an operations quality rating of OQ1-minus.
The Moody’s scale runs from excellent (OQ1) to poor (OQ5).
The assessments, which are initiated by hedge funds often hoping to attract big institutional money, reportedly cost $25,000.
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…