( www.theroyalgazette.com ) Forty-five Bermuda-based investors pumped almost $1.5 million dollars into a collapsed Canadian hedge fund that is now under investigation in Canada.
Until regulators shut it down in February, Portus Alternative Asset Management was one of the fastest-growing hedge funds in Canada, raising in excess of $800 million through its various products from almost 26,000 customer accounts.
While the total book value from the 45 Bermuda investors is nowhere near the $725 million invested by 24,519 Canadians, Bermuda’s book value leads foreign investments in Portus Alternative Asset Management, according to court documents.
