Founded 1994 | ||
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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.
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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