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Really rich hire Rudy to guard the gates

His company pairs up with an ultrahigh-net-worth firm to protect clients from financial fraud

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By Sue Asci

September 20, 2009 6:01 am ET

Former New York Mayor Rudolph Giuliani has paired up with an ultrahigh-net-worth shop in a bid to protect the firm's wealthy clients from investment fraud.

He and his firm, Giuliani Partners LLC, of which he is chairman and chief executive, last week entered into a joint venture with Nine Thirty Capital Management LLC, an investment manager that caters to the wealthy.

Giuliani Partners' security division — which specializes in investigations and managing crises — will work directly with Nine Thirty Capital's investment professionals to vet hedge fund managers for the firm's wealthy clients.

“Considering the current state of our economy and the numerous financial frauds uncovered in the past year, it's no wonder that investors are extremely wary about where they should invest their money and are asking, "Who can we trust?'” Mr. Giuliani said in a statement.

To participate in one of the customized portfolios that Nine Thirty offers to clients, who must have at least $50 million in assets, the hedge funds and their principals, managers and employees must go through a review process, according to the statement. The process includes identity, background and reputation due diligence, operational due diligence and continuing due diligence.

E-mail Sue Asci at sasci@investmentnews.com.

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