Tremont Group feeder funds
E676600
Tremont Group feeder funds were investment vehicles that funneled client money into Bernard Madoff’s firm, becoming heavily entangled in his massive Ponzi scheme.
Statements (38)
| Predicate | Object |
|---|---|
| instanceOf |
feeder fund structure
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investment vehicle ⓘ |
| assetClassLabel | alternative investments ⓘ |
| associatedWith | Bernard Madoff Ponzi scheme NERFINISHED ⓘ |
| collapseTrigger | revelation of Madoff Ponzi scheme in December 2008 ⓘ |
| domicileType | offshore and onshore fund structures ⓘ |
| dueDiligenceResponsibility | performed by Tremont Group Holdings ⓘ |
| exposureType | indirect exposure to Madoff trading strategy ⓘ |
| feeStructure | management and performance fees charged to investors ⓘ |
| fundFlowFunction |
collected capital from clients
ⓘ
transferred capital to Madoff-managed accounts ⓘ |
| impactOnIndustry |
heightened focus on operational due diligence
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increased scrutiny of feeder funds ⓘ |
| impactOnInvestors | substantial principal losses ⓘ |
| investedWith | Bernard L. Madoff Investment Securities LLC NERFINISHED ⓘ |
| investmentStrategy | fund of funds ⓘ |
| investorJurisdiction | United States investors ⓘ |
| investorJurisdiction | international investors ⓘ |
| legalConsequence | involved in investor lawsuits after Madoff scandal ⓘ |
| lostAssets | billions of US dollars in client funds ⓘ |
| managedBy | Tremont Group Holdings NERFINISHED ⓘ |
| marketingChannel | private placements ⓘ |
| operatedIn |
United States of America
ⓘ
surface form:
United States
|
| promisedFeature |
consistent absolute returns
ⓘ
low volatility ⓘ |
| regulatoryIssue | allegations of inadequate disclosure of Madoff concentration ⓘ |
| regulatoryScrutiny | subject to investigations after 2008 ⓘ |
| relatedConcept |
Madoff-related litigation
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Ponzi scheme feeder fund ⓘ |
| riskCharacteristic |
counterparty risk to Madoff
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operational due diligence failures ⓘ |
| roleInScheme | channeled client assets into Madoff accounts ⓘ |
| settlementInvolvement | participated in settlements with Madoff trustee ⓘ |
| targetInvestorType |
high-net-worth individuals
ⓘ
institutional investors ⓘ |
| timePeriod | active prior to 2008 financial crisis ⓘ |
| underlyingManagerConcentration | high exposure to single manager Bernard Madoff ⓘ |
| victimOf | Madoff Ponzi scheme collapse in 2008 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
Bernard L. Madoff Investment Securities LLC Ponzi scheme
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usedFeederFunds
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Tremont Group feeder funds
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