Hedge fund Forsyth Partners enters administration
Grant Thornton partners take hedge fund into formal insolvency as it seeks a buyer for the business
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.