Corgentum’s Operational Due Diligence Webinar Series Featured in the Hedge Fund Law Report
Corgentum Consulting’s operational due diligence webinar series continues to fuel the discussion surrounding investor operational due diligence challenges and trends.
Corgentum’s Consulting’s operational due diligence webinar series was recently featured in the Hedge Fund Law Report .
The first webinar in the series, Operational Due Diligence Survival Kit for 2012: Essential skills for uncovering and evaluating operational risk in hedge funds, private equity and traditional funds, outlined key trends for investors to consider when performing operational due diligence. The Hedge Fund Law Report article, “Corgentum Webinar Highlights Trends, Challenges and Best Practices for Hedge Fund Investors in Conducting Operational Due Diligence” can be read on the Hedge Fund Law Report
website (subscription required) in Vol. 5, No. 16 (Apr. 19, 2012).
Corgentum has also recently posted a replay of the webinar on the Videos section of Corgentum.com. .
Readers can sign up for news related to upcoming Corgentum webinars focused on operational due diligence via the firm’s Contact page.
Corgentum Consulting Releases Hedge Fund Newsletter: Operational Due Diligence Insights
Corgentum Consulting has today released the first issue of its new operational due diligence newsletter entitled, Operational Due Diligence Insights. This newsletter will bring investors unique operational due diligence news and insights . Topics covered in this issue include:
- How will SEC registration influence investor due diligence on hedge funds?
- Tools for investors to evaluate financial statement risk
- Considerations when analyzing administrator independence in the valuation process
- Diagnosing information security risks
This newsletter will be available on Corgentum Consulting’s website via direct link here.
Operational Due Diligence Insights also includes a section about Corgentum’s upcoming events like their new webinar: Operational Due Diligence Survival Kit for 2012. This webinar will be on March 15 from 2-3 pm EST and will give attendees vital information to asses and uncover operational risk in hedge funds, private equity and traditional funds. Click here to signup for the upcoming webinar.
Readers can also visit Corgentum’s contact page to sign up to receive future issues as well as other Corgentum news and upcoming events.
NJ Hedge Fund Under FBI Investigation After Partner and Investors’ Money Becomes MIA
According to FINalternatives, Osiris Fund, a New Jersey based hedge fund, is under investigation after one of its’ partners, Peter Zuck fled with investor’s money. Osiris was unlike typical hedge funds in that it allowed investors to invest only a $150,000 minimum into the fund, as opposed to the standard $1 million. 
Michael Spak, one of the three partners in the fund, reported Zuck to the FBI. He said that the situation was currently under investigation. Osiris was started in 2009 and Spak told FINalternatives, “The fund is a ‘hedged’ fund in the truest sense of the word. Our team’s objective is to immunize the volatility of the portfolio which in turn allows us to produce better than average returns consistently.”
Interestingly enough, according to Bloomberg data, the fund ranked third out of 3,527 top performing global hedge funds in April 2010. Since the start of the investigation, no money has been recovered and Zuck is nowhere to be found.
It was announced that Zuck was arrested in 1995 and spent over a year in jail for “misconduct by a corporate official.” Hedge fund operational due diligence would have revealed these public records as well as identified any other questionable aspects of the fund to investors. Investors should be wary of investing in a fund without performing any bit of ops dd because fraud is much more common than we think… 
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