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Alternative Market Briefing

SEC charges Miami hedge fund adviser with misleading investors

Wednesday, May 30, 2012

Bailey McCann, Opalesque New York: The Securities and Exchange Commission (SEC) has charged Miami-based Quantek Asset Management LLC with making false representations to investors that executives in the firm had invested some of their own money into funds where they had nothing invested. According to the results of an investigation by the SEC, Quantek made various misrepresentations about fund managers having "skin in the game" along with investors in the $1 billion Quantek Opportunity Fund.

The investigation also found that Quantek misled investors about the investment process of the funds it managed as well as certain related-party transactions involving its lead executive Javier Guerra and its former parent company Bulltick Capital Markets Holdings LP. Bulltick, Guerra, and former Quantek operations director Ralph Patino have all been charged by the SEC and agreed to pay $3.1m in penalties. In a related statement emailed to Opalesque, Mr. Guerra said that he accepted the SEC order without admitting or denying its findings.

Quantek Asset Management was an alternative investment fund focused on Latin America. It managed multi-strategy portfolios as well as asset-backed lending (ABL) investment activities in a variety of Latin American sectors, including real estate infrastructure, transportation and natural resources. Quantek was forc......................

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