LONDON (Reuters)- Hedge fund firm Pentagon Capital said Thursday it suspended its funds because it expects the U.S. Securities & Exchange Commission (SEC) to file civil complaints against Chief Executive Lewis Chester.
Pentagon, which manages 1.1 billion pounds in assets in 17 funds, said it will close the Pentagon Sterling Multi-Strategy fund, the Pentagon High Performance fund and the Pentagon Investment Capital International fund.
The contents of the complaints are not known, Pentagon said in a statement on Thursday, but it believes they concern CEO Lewis Chester and a now dormant investment fund.
