Mon, Sep 26, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Trouble ahead for Ohio-based hedge fund Davian Capital and investors

Wednesday, July 17, 2013

Benedicte Gravrand, Opalesque Geneva:

According to an excellent report from the Southern Investigative Reporting Foundation (SIRF), it is highly likely that Anthony Davian, head of Davian Capital Advisors, may have conducted a fraud. Although as he still being investigated, nothing has been confirmed.

Davian Capital, a $200m hedge fund firm based in Ohio, runs three LP hedge funds, according to the website; the Cleveland Alpha Fund, the Cleveland Gravity Fund and the Cleveland Precious Metals Fund. It was either set up in 2007 or in 2008, according to two contradictory statements from Anthony Davian. It reportedly moved from Akron to Richfield this year.

There were several red flags, starting with Davian’s claim to have a degree in accounting (which is untrue), his seeking personal bankruptcy protection in 2003, several other past outstanding claims from creditors, his claim to have returned 42% in his first year of trading in 2007 (when other equity long/short managers returned on average 13%), among them.

"His trading proved so profitable that by August 2007, Davian was spending much of his time "golfing and fishing," according to his......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. North America - Acela fight splits hedge fund Connecticut and old money enclaves[more]

    From Bloomberg.com: Connecticut’s residential coastline is two worlds, the one of newcomer millionaires and one whose wealth and New England roots span generations. Now, their differences over a rail route threaten to gum up plans for the U.S. Northeast’s fastest-ever trains. About 30 miles from Man

  2. Activist News - Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership, Activist investors double chance of CEO exits[more]

    Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership From Calvinayre.com: Casino operator Caesars Entertainment has improved its offer to junior creditors to over $5b, but the offer is only good until Friday. On Wednesday, Caesars added an extra $1.6b to the $

  3. Opalesque Exclusive: Modern investor tools (2): A platform that does the job for you[more]

    Benedicte Gravrand, Opalesque Geneva: A new series on technology providers that assist asset allocators. There is disruption in the investor part of the world of hedge funds, coming from platforms that can replace traditionally-run search and analysis. Here is one of them. L

  4. Hedge funds saw four consecutive months of outflows in August, but assets still up by $17.6bn YTD[more]

    Komfie Manalo, Opalesque Asia: Hedge funds witnessed four consecutive months of outflows with investor redemptions totaling $23.8bn as of end of August, data provider Eurekahedge said in its monthly report. But total hedge fund assets grew by

  5. Trend reversals lead to losses as managed futures drops 1.52% in August[more]

    Komfie Manalo, Opalesque Asia: Trend reversals in August have led managed futures traders to lose 1.52% last month according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.62% year to dat