Hedge fund Forsyth Partners enters administration

Hedge fund
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.

Further reading:

KPMG called in at mortgage lender

E&Y administrators saves jobs
at PVC group

Related reading