VC Post – Platinum Partners sees Brazilian fraud as a potential boom industry in the emerging markets. According to a Financial Times report, the New York-based hedge fund intends to make a bet in the recovery of Brazilian fraud claims valued at USD 5.1 billion. The report said the investment showed just how deep investors were willing to go to the “more esoteric areas of emerging markets in their quest for yield.”
According to the report, Platinum Partners will be working with Martin Kenney, a Canadian lawyer who has a law firm based in the British Virgin Islands. Kenney, an international asset chaser, will be putting together a portfolio comprised of 10 cases which the hedge fund will invest in.