Fri, Jan 20, 2017
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. Investing - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised