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Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at editor@evestment.com

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Cincinnati Pension Drops Common Sense After Prostitution Arrest

Sep 08, 2013
Jing Chen

The Cincinnati Retirement System has divested from fund of hedge funds firm Common Sense Investment Management after the firm’s CEO was entangled in a prostitution scandal.

The Portland Business Journal reported that the pension fund, which had about $100 million invested in the Oregon-based hedge fund firm, made the decision after Jim Bisenius’ arrest. Bisenius was among nine men arrested last week on charges of patronizing prostitutes as part of a sting operation.

Bisenius, who faces up to one year in prison and may pay up to $5,000 in fines, will remain in his role at Common Sense.

Managing approximately $2.9 billion in assets, Common Sense has managed to keep out of the media spotlight up until this scandal since its inception in 1991.

 

 

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