Hedge Fund News From HedgeCo.Net


Investor sues Perot Family Trust over hedge fund that went from being worth billions to ‘less than zero’


Dallas Morning News – An investor in a Perot family hedge fund has sued the Perot Family Trust and several related parties, saying they grossly mismanaged the fund, which went bust in November after starting the year with $2.5 billion in net assets.

Southern Avenue Partners LP said the fund – Bermuda-chartered Parkcentral Global Hub Ltd. – collapsed despite reassurances to investors that its trading strategies would protect it from deep losses. The hedge fund didn’t hedge, the complaint alleges.

"As a result of defendants’ breach of fiduciary duty, the Global Fund imploded," said the lawsuit, referring to Parkcentral Global Hub. "The Global Fund’s net asset value went from over $2.5 billion to less than zero.


Read Complete Article

About the HedgeCo News Team

The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis. Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated and tagged , , , , , , , , , , , , , , , . Bookmark the permalink.

Comments are closed.