Hedge fund Forsyth Partners enters administration

Hedge fund Forsyth Partners has entered into administration after failing to achieve a sale of the business.

Grant Thornton partners are acting as administrators for the business, which had failed in plans to expand into Dubai, reports the FT.

'The corporate entity had overstretched itself in terms of expansion,' said joint administrator Steve Akers.

There were no plans for redundancies among its 80 staff, and investors in its funds would not lose money as a result of the administration, Akers added.

A sale of the business is still sought.

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