FINalternativesolutions reports that Finvest Asset Management is going under, citing circumstantial evidence that the multi-strategy shop's employees are looking for alternative employment, that the fund has not been able to reconcile its payments to investors in its managed accounts, and that the firm's Website has been accessible for several months. Principal Gad Grieve, however, claims the rumors of his firm's death have been greatly exaggerated. Sayeth Grieve:
"I have absolutely no idea from where this originates, and clearly and categorically I must state that these suggestions are malicious and untrue. Yesterday, there was a power failure in the block and staff in our New York office left earlier than usual at 4pm. There are absolutely no issues that we have with any of our investors."
Hedge Fund Finvest Denies Claims It Is Blowing Up [FINalternatives]