New York (HedgeCo.net) – A hedge fund managed by Marvin Bush, the brother of former President George W. Bush, failed to disclose previous litigation against its founding partner.

The Nashville legal department, according to news source The Tennessean, is looking into the hedge fund run by Bush to see if it is eligible to manage the city’s pension funds investment in hedge funds. Nashville has planned to invest in a $85 million for the city’s pension plan.

The hedge fund, Winston Partners, was asked whether they had been involved in any regulatory disciplinary action, business litigation or other legal proceedings related to investment activities, to which they answered no.

“There have been no regulatory actions, business litigation or other legal proceedings related to Winston’s Investment activities.” The hedge fund said, according to the news source.

However, court documents show that Bush was involved in an investigation into Houston-based HCC Insurance Holdings, and named as one of five defendants.

“Under the court settlement, HCC agreed to make a series of reforms in the way it awards stock options. Lawyers for the plaintiffs were awarded $3 million in fees for taking on the case.” The Tennessean reported.

The application is under review by the Metro Department of Law.

Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
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