Here’s a list of madoff feeder funds, and the amount of money was reported lost
- Fairfield Sentry Ltd ($7.3 billion)(1)(2)
- Rye Select Broad Market Fund LP ($3.3 billion)(1)(2)
- Kingate Global Fund Ltd. ($2.8 billion)(1)(2)
- Herald USA Fund & Herald Luxemburg Fund ($2.1 billion)(1)(2)
- Ascot Partners L.P. ($1.8 billion)(1)
- Gabriel Partners ($1.5 billion)(1)
- LUXALPHA SICAV- American Selection (1.4billion) (1)
- M-Invest Ltd (as much as $700 million)(1)
- Fix Asset Management ($400 million) (1)
Tags: feeder funds, hedge fund fraud, madoff
January 10th, 2009
12:41 am
These funds should be ashamed! Where was the due diligence? It’s not like people didn’t know what to look for, they were just lazy and greedy.
Read a new good resource on this subject recently. It was named by Jason Scharfman called Hedge Fund Operational Due Diligence: Understanding the Risks (came out in Dec. 08).
These so called professionals should have the decency do at least do their homework before they rake in millions!
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