New York (HedgeCo.net) – New York-based Lighthouse Financial Group has suspended their trading activities until further notice, effective August 3rd 2010, according to the hedge fund brokers’ website.
Lighthouse became a subsidiary of Lighthouse Global Partners, LLC in 2005, the shutdown includes the Lighthouse Prime Services unit.
According to hedge fund and private equity news source FINalternatives, the firm has been unable to make payroll, and has informed clients that they could only sell assets through the firm.
“A different source close to the firm says that Lighthouse is in talks with a boutique firm that has eyes on becoming a much larger player and is making a bid for all of the divisions, and an announcement could come as early as this afternoon.” FINalternatives said.
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