Industry News

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

News Archive

Read More Industry News >

Investors Flee Common Sense

Oct 13, 2013
Jing Chen

Virtually all investors in Common Sense Investment Management have fled the fund of hedge funds firm after its CEO was caught in a prostitution scandal.

CNBC reported that clients have requested to redeem more than 90% of Oregon-based Common Sense’s assets around the time of Jim Bisenius’ arrest in late August on charges of patronizing prostitutes. The redemptions would leave Common Sense with less than $150 million in assets by year-end.

Some of the investors who have pulled their money include the Fresno County Employees Retirement Association, the Cincinnati Retirement System and the Oklahoma Municipal Employees Retirement Fund.

Common Sense has stuck by Bisenius’ side since his arrest, stating that the CEO’s “recent personal transgressions bear no reflection on [the firm's] outstanding team of professionals or the quality of the portfolio management.”

Common Sense has managed to keep out of the media spotlight up until this scandal since its inception in 1991.

 

 

Source: 

Read More Industry News >


Want to subscribe?

Join 15,000+ of your colleagues to receive daily hedge fund news from the definitive source in traditional and hedge fund data.

Subscribe Now


Hedge Fund Journal Reviews eVestment's Hedge Fund Database

July, 2012

Read More