New York (HedgeCo.Net) – Portland-based fund of hedge funds Common Sense Investment Management has been dropped by the Cincinnati Retirement System after the firm’s CEO, Jim Bisenius, was arrested in a prostitution sting.
Tigard (Oregon) police arrested nine men who responded to an online advertisement set up by the police. The police then converged on the hotel room that was the designated meeting place. “We placed an online ad and within the first four hours we had arrested seven people. Our decoy officer was getting phone calls almost immediately,” the police spokesperson said.
The Portland Business Journal reports that investors in Common Sense’s funds include the Oklahoma Municipal Employees Retirement fund, the Fresno County Employees Retirement Association, the Illinois Student Assistance Commission, and the Los Angeles Fire and Police Pensions fund.
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