New York (HedgeCo.Net) – The hedge fund manager who was caught in a prostitution sting will continue on in his positions as chief executive and chief investment officer at Common Sense Investment Management, a $3.2 billion fund of funds.
“(Jim Bisenius) will deal with this recent event as the personal matter that it is,” the fund said in a statement. “Recent personal transgressions bear no reflection on this outstanding team of professionals or the quality of the portfolio management.”
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 Cincinnati Retirement System, 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.
The full release by Common Sense reads:
For more than two decades, Common Sense Investment Management (CSIM) has brought superior risk adjusted returns to our investors and clients. CSIM’s success is about a team of committed and driven investment professionals; not one individual. Jim Bisenius’ recent personal transgression bears no reflection on this outstanding team of professionals or the quality of portfolio management at CSIM.
Going forward, the firm’s partners have decided that Jim will remain in his role as Chief Executive Officer and Chief Investment Officer and he will deal with this recent event as the personal matter that it is. Our investment process and decision making will continue to be made by our investment committee, which is comprised of our President, four Portfolio Managers, Director of Operational Due Diligence, Director of Risk Management and myself. All management decisions continue to be made by the management team. We look forward to building on CSIM’s successful 22-year track record and creating value for our investors.
Common Sense Investment Management was founded in 1991, and is an independent, privately-held fund of hedge funds manager located in Portland, Oregon.
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