Friday, 9 October 2015
Last updated 1 hour ago
Jul 16 2008 | 11:00am ET
Gottex Fund Management has sued a Connecticut hedge fund manager, alleging that it broke promises and misled it over redemption requests.
The US$16 billion Swiss fund of hedge funds manager says that Greenwich-based Stewardship Investment Advisors and its managing director, Marlon Quan, did anything but live up to the firm’s name. According to the complaint, filed in Connecticut federal court, Stewardship agreed to let Gottex withdraw its $100 million investment but paid out the redemption in participatory notes. It also accuses Stewardship and Quan of misleading it about lowered management fees after it threatened to withdraw its money two years ago.
The charges in the complaint include fraud, intentional misrepresentation, negligent misrepresentation, and breach of good faith and fair dealing.
Stewardship asked a judge to dismiss the case last week.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…