Monday, 27 April 2015
Last updated 32 min ago
Jul 1 2008 | 11:11am ET
Absolute Capital Management, the troubled European hedge fund group, can’t seem to stay on the straight and narrow. Trading in the firm’s shares on London’s Alternative Investment Market was suspended this morning after AbCap delayed the publication of its audited reports and accounts.
AbCap, which has been beset by problems since the surprise resignation of founder Florian Homm in September, blamed its ongoing restructuring and the replacement of its auditor for the delay. The firm said it expects to have the report ready by July 28.
Deloitte replaced Ernst & Young as auditor in April, AbCap said. The firm has also restructured several of its hedge funds in recent months, freezing some redemptions, and spinning off its emerging markets debt unit, Argo Capital Management. Just last month it named Glenn Kennedy its new CEO.
“People recognize we have a future,” former CEO Jonathan Treacher said at the time. “We have been hammered, we are battered and bruised, but we have survived the storm.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…