Type Hedge fund Founded 1994 | Headquarters Hamilton, Bermuda | |
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Kingate Management is a Hamilton, Bermuda hedge fund. It was a feeder fund into the securities firm of Bernie Madoff, as part of the Madoff investment scandal.
Contents
History
Kingate Management and Tremont Capital Management set up Kingate Global Fund Ltd. (KING) as a joint venture. It charged an initial fee of 5%, and then 1.5% of assets per year. It was one of the largest feeder funds of Bernie Madoff, and raised $3.5 billion for Madoff starting in 1994. It was overseen by FIM Advisers LLP, a London firm.
The fund lost all of its assets in the Madoff Ponzi scheme.
References
Kingate Management Wikipedia(Text) CC BY-SA