Holders in tapped funds want to replace bear

A group of investors in Bear Stearns’ two deflated hedge funds want to replace the funds’ general partner and director.
SEP 05, 2007
By  Bloomberg
A group of investors in Bear Stearns’ two deflated hedge funds want to replacethe funds’ general partner and director. More than a quarter of the investors in the now-collapsed Bear Stearns High-Grade Structured Credit Strategies Enhanced Fund and the Bear Stearns High-Grade Structured Credit Strategies Enhanced Leveraged Fund want to replace the general partner of the former fund and shelve all of the directors in the latter. FTI Capital Advisers LLC has been nominated as the replacement in those capacities, according to a notice filed yesterday by FTI Capital’s managing director John C. Crittenden III in a Manhattan bankruptcy court. Investors are hoping that FTI Capital, a subsidiary of forensic analysis company FTI Consulting, can help determine what led to the funds’ failure and the responsible parties, a source told The Wall Street Journal. The notice doesn’t identify any of the investors who made the request.

Latest News

SEC, Binance seek 60-day pause for lawsuit against exchange
SEC, Binance seek 60-day pause for lawsuit against exchange

The joint motion by the regulator and the giant crypto bourse comes as the recently installed crypto task force lays foundations for a formal framework.

Cresset Partners rebrands to Peakline
Cresset Partners rebrands to Peakline

With meaningful scale and growing client needs, the multibillion-dollar RIA's leader says the "time is right" to come into its own an independent private investment business.

Wealth management industry is facing a looming retirement crisis, report warns
Wealth management industry is facing a looming retirement crisis, report warns

Despite technology adding capacity, an advisor shortage is predicted.

Just 30% of people are very confident in managing their finances right now
Just 30% of people are very confident in managing their finances right now

And there's a large gap between the fears they have and the action they take.

Stocks waver on tariff concerns, gold hits new record high
Stocks waver on tariff concerns, gold hits new record high

Cautious investors are also awaiting US inflation stats.

SPONSORED Taylor Matthews on what's behind Farther's rapid growth

From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.

SPONSORED Why wealth advisors should care about the future of federal tax policy

Blue Vault features expert strategies to harness for maximum client advantage.