Kingate Global Fund
E676601
Kingate Global Fund was an offshore investment fund that acted as a major feeder fund channeling client money into Bernard Madoff’s Ponzi scheme.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf | offshore investment fund ⓘ |
| administrator | Kingate Management Limited NERFINISHED ⓘ |
| associatedWith | Bernard L. Madoff NERFINISHED ⓘ |
| auditor | PwC (PricewaterhouseCoopers) NERFINISHED ⓘ |
| basedIn | British Virgin Islands NERFINISHED ⓘ |
| became | insolvent following Madoff scandal ⓘ |
| businessModel | raising capital and allocating substantially all assets to Madoff ⓘ |
| channeledClientMoneyTo | Bernard Madoff’s Ponzi scheme ⓘ |
| collapsedFollowing | arrest of Bernard L. Madoff in December 2008 ⓘ |
| currencyDenomination | primarily U.S. dollars ⓘ |
| custodyOfAssetsDelegatedTo | Bernard L. Madoff Investment Securities LLC NERFINISHED ⓘ |
| domiciledIn | British Virgin Islands NERFINISHED ⓘ |
| estimatedAssetsInvestedWithMadoff | billions of US dollars ⓘ |
| experienced | near-total loss of assets after revelation of Madoff fraud ⓘ |
| facedClaimsFrom | SIPA trustee for Bernard L. Madoff Investment Securities LLC NERFINISHED ⓘ |
| headquarteredIn | offshore jurisdiction ⓘ |
| investedWith | Bernard L. Madoff Investment Securities LLC exclusively or predominantly ⓘ |
| investmentManager | Kingate Management Limited NERFINISHED ⓘ |
| investmentStrategyDescribedAs | split-strike conversion strategy via Madoff ⓘ |
| involvedIn | Madoff investment scandal NERFINISHED ⓘ |
| legalForm | offshore investment vehicle ⓘ |
| linkedTo |
FIM group of companies
NERFINISHED
ⓘ
global network of Madoff feeder funds ⓘ |
| marketedTo | international investors ⓘ |
| notedAs | one of the largest Madoff feeder funds ⓘ |
| offered | shares to non-U.S. investors ⓘ |
| operatedAs | feeder fund to Bernard L. Madoff Investment Securities LLC ⓘ |
| promoter |
FIM Advisers LLP
NERFINISHED
ⓘ
FIM Limited NERFINISHED ⓘ |
| provided | account statements to investors based on Madoff-reported returns ⓘ |
| regulatoryJurisdiction | British Virgin Islands financial authorities ⓘ |
| relatedTo | Kingate Euro Fund NERFINISHED ⓘ |
| riskFactor | concentration risk in single manager Madoff ⓘ |
| roleInMadoffCase | significant feeder fund increasing scale of Ponzi scheme ⓘ |
| servedAs | major conduit of European and international capital to Madoff ⓘ |
| subjectOf |
claims and disputes over due diligence failures
ⓘ
clawback actions by Madoff trustee Irving Picard ⓘ investor lawsuits after Madoff collapse ⓘ regulatory and civil investigations in multiple jurisdictions ⓘ settlement agreements with Madoff trustee ⓘ |
| targetedInvestorsIn |
Asia
NERFINISHED
ⓘ
Europe NERFINISHED ⓘ Latin America NERFINISHED ⓘ |
| timePeriodOfOperation | prior to December 2008 ⓘ |
| typeOfInvestors |
high-net-worth individuals
ⓘ
institutional investors ⓘ |
| usedStructure | feeder fund into single underlying manager (Madoff) ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.