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By the Opalesque team: In a report independently obtained by Opalesque, it was found that an operations assessment conducted on Florida-based Scoop Management Company, now better known as the investment firm which the missing (or fleeing) Arthur G. Nadel used to be vice-president of, had numerous and easily identifiable deficiencies as far back as 2003.
At the time, Scoop provided administrative and investment services for four (domestic) hedge funds, three investment clubs and three managed accounts with a total AuM of $55m. The hedge funds were called: Valhalla Investment Partners, LP; Viking Fund, LLC; Viking IRA Fund, LLC; and Victory Fund, Ltd. The later was Scoop’s main fund and was incepted in 2001 (the others were managed by associate companies Valhalla Management Inc and Viking Management LLC.)
Nadel, who graduated from the New York University Law School, started his career as a real estate developer and securities investor. He later was engaged in consulting activities for various public and private companies and in 1997, together with Ms. Peg Quisenberry (Scoop’s president) and others, he formed a company with the purpose of studying and using computer-generated investment and trading programs, and utilizing the results for portfolio management.
According to a CarbonBased Consulting report which was drafted in April 2003, Scoop and its management team were making too many exceptions with regards to their investors; too many of th...................... To view our full article Click here
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