(Reuters) – Vision Capital Advisors, a $600 million hedge fund led by two visually impaired managers, is under investigation by U.S. securities regulators, according to a confidential document reviewed by Reuters.
In a wide-ranging investigation, the Securities and Exchange Commission issued subpoenas in the summer to several investment firms that have done business with New York-based Vision Capital, said people familiar with the inquiry.
The hedge fund invests mainly in private placements by small cash-strapped public companies.
The subpoenas sent out by the SEC’s New York office seek emails, transaction documents and other communications between Vision Capital and the investment firms going back to early 2005 — the hedge fund’s first year in business. Reuters reviewed a copy of one of the subpoenas.
SEC spokesman John Nester declined to comment.
