Tue, Jun 28, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

SEC exonerates hedge fund manager Daniel Zwirn after completing investigation of hedge fund

Thursday, February 24, 2011
Opalesque Industry Update - According to documents obtained by Opalesque, the New York office of the Securities and Exchange Commission yesterday decided not to recommend any enforcement action against Daniel Zwirn (Dan Zwirn) after completing their investigation of D.B. Zwirn & Co, L.P.

According to an 2008 FT article (Source), the SEC started to investigate the valuation process of the hedge fund's assets shortly after it informed investors that it would shut down in the face of massive redemptions.

The issue was brought up by the firm itself, saying that a manager who had left in 2005 had failed to “follow a systematic pricing methodology” for a portfolio of hard-to-trade assets, which could have resulted in a marginal overvaluing. Besides, the SEC also examined internal fund transfers and billing of expenses to investors.

- FG

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Considering Dan Zwirn self-reported the issue and was exonerated of any wrongdoing, it's a shame the "length" of the investigation is what ultimately caused D.B. Zwirn & Co. to close. Hopefully steps are being taken by the SEC to avoid this problem in the future.   November 21, 2012 10:30:25 PM
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. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  2. Investing - Soros, Druckenmiller among hedgies profiting in market plunge, Hedge funds were most bullish on bonds since 2004 before Brexit, Surprise Brexit vote unleashes scramble for dollars, High-yield hit on Brexit but no panic selling, Scientist turned hedge fund founder lured to pound, euro, Hedge fund avoids commodities, posts big gains[more]

    Soros, Druckenmiller among hedgies profiting in market plunge From HITC.com: Bullish positions in gold and volatility and well-timed short bets on China and emerging markets, among other areas, were some of the trades that benefited hedge funds on Friday as markets digested Britons' s

  3. Manager Profile - A 26-year old hedge fund manager called Brexit — here's what he thinks about the historic vote[more]

    From Businessinsider.com: Taylor Mann is not your typical fund manager. The twenty-six year old Texas A&M graduate manages Pine Capital in Larue, Texas (population 160), where he resides with his three-year old daughter. Also atypical compared with many of the largest funds out there, Mann makes

  4. People - Mariner Investment’s co-CIO Williams to leave $5.5bn firm, IOOF hires new alternatives portfolio manager[more]

    Mariner Investment’s co-CIO Williams to leave $5.5bn firm From Bloomberg.com: Basil Williams, co-chief investment officer of Mariner Investment Group, is leaving the $5.5 billion hedge-fund firm after negotiations to renew his contract failed. Williams will stay in his role until t

  5. Hedge Fund Due Diligence Exchange offers complete due diligence reports at $1500[more]

    Matthias Knab, Opalesque: HFDDX is offering complete alternative investment due diligence reports at $1500 US. Industry professionals can simply go to www.hfddx.com and indicate their interest in sponsoring one or more DD Reports for $1500 each.