December 16, 2008 / 8:41 AM / in 9 years

FACTBOX-Firms exposed to Madoff's alleged fraud

5 Min Read

Dec 15 (Reuters) - Investors around the world have scrambled since Friday to assess potential losses from an alleged $50 billion (33 billion pound) fraud by Bernard Madoff, the prominent Wall Street trader arrested last week.

Following are some of the firms exposed:

* Austin Capital Management managed money for the Massachusetts state pension fund, which lost $12 million with Madoff.

* Chais Family Foundation, which donates about $12.5 million annually to Jewish causes, will be forced to close after the entire fund was invested with Madoff.

* HSBC HOLDINGS PLC has potential exposure of about $1.5 billion, the Financial Times reported, citing unnamed people close to the situation. The exposure is from loans it provided to institutional clients, mainly hedge funds of funds, that wanted to invest with Madoff, the FT reported.

* GRUPO SANTANDER SA - Spain's largest bank said its investment fund, Optimal, has a 2.33 billion euro ($3.05 billion) exposure to Madoff Securities.

* ASCOT PARTNERS LLC - According to a Wall Street Journal report, the fund where former GMAC chairman Jacob Ezra Merkin is a money manager has an exposure of $1.8 billion.

* ACCESS INTERNATIONAL ADVISORS - According to a report by Bloomberg, Access has an exposure of $1.4 billion.

* BENBASSAT & CIE - Swiss private bank has an exposure of $1.1 billion francs ($935 million), according to Le Temps.

* UNION BANCAIRE PRIVEE - Swiss bank that invests in funds of hedge funds has lost about 1 billion francs ($850 million), according to Le Temps, citing unnamed banking sources.

* ROYAL BANK OF SCOTLAND GROUP PLC - Had exposure through trading and collateralized lending to funds of hedge funds invested with Madoff, with a potential loss of around 400 million pounds ($597.9 million)

* NATIXIS said it could have a 450 million euro ($602 million) indirect exposure to Madoff

* BNP PARIBAS - France's largest listed bank said it has a potential 350 million euro ($464.3 million) exposure.

* REICHMUTH & CO - Swiss private bank said its fund of funds Reichmuth Matterhorn had an exposure to investments linked to Madoff that amounted to about $325 million.

* NOMURA HOLDINGS said it had a 27.5 billion yen ($303 million) exposure related to Madoff, but the impact on its capital would be limited.

* MAXAM CAPITAL MANAGEMENT LLC - The fund has lost about $280 million on funds invested with Madoff, according to a Wall Street Journal report.

* PIONEER INVESTMENTS - UniCredit SpA's fund management unit is exposed to $280 million through its Primeo Select hedge fund, according to Bloomberg.

* EIM GROUP - Le Temps reported that EIM Group, a fund of hedge funds, said it had a $230 million exposure.

* FAIRFIELD SENTRY LTD - The $7.3 billion hedge fund run by Walter Noel's Fairfield Greenwich Group had accounts with Madoff Investment Securities.

* KINGATE GLOBAL FUND LTD - The $2.8 billion hedge fund run by Kingate Management Ltd had invested in Madoff Investment Securities.

* UBS - The investment bank unit of the Swiss financial group has a limited and insignificant counterparty exposure, its spokesman told Reuters.

* BENEDICT HENTSCH - Swiss private bank said its exposure to products linked to Madoff amounted to 56 million francs ($47 million), or less than 5 percent of assets under management.

* BRAMDEAN ALTERNATIVES LTD - UK asset manager, headed by well known fund manager Nicola Horlick, said almost 10 percent of its holdings were exposed to Madoff. Bramdean said it had two holdings that maintain trading accounts with Bernard L. Madoff Investment Securities that represented 9.5 percent of its net asset value at end-October.

* BBVA - Spain's second-largest bank said no customers in Spain were exposed to the alleged fraud.

* Real estate investor Mort Zuckerman tells the CNBC TV network that about 10 percent of one of his charitable trusts was invested with Madoff and had lost about $30 million.

* CNBC has also reported that the following firms were clients of Madoff:

-- Tremont Capital Management - The manager of funds of hedge funds portfolios could not be reached for comment.

-- Palm Beach Country Club - The institution did not return a call seeking comment.

-- Sterling Equities - The investment firm, owner of the New York Mets baseball team, did not return a call seeking comment.

-- Bank Syz - The Swiss bank dedicated to asset management could not be reached for comment.

-- Lombard Odier - The Swiss private bank could not be reached for comment.

Reporting by Svea Herbst-Bayliss, Jason Szep, Muralikumar Anantharaman, Juan Lagorio, additional reporting by Phil Wahba; Editing by Ian Geoghegan and Andre Grenon

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