FACTBOX: Firms exposed to Madoff's alleged fraud

Fri Dec 12, 2008 6:05pm EST
 
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NEW YORK (Reuters) - Investors scrambled on Friday to assess potential losses from an alleged $50 billion fraud by Bernard Madoff, a day after the arrest of the prominent Wall Street trader.

Following a list of some of the firms exposed to the alleged fraud:

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

The Swiss private bank said its exposure to products linked to Bernard Madoff amounted to 56 million Swiss francs ($47 million), or less than 5 percent of the bank's assets under management.

PIONEER INVESTMENTS

UniCredit SpA's fund management unit is exposed through its Primeo Select hedge fund, according to two people familiar with the matter.

BRAMDEAN ALTERNATIVES LTD

The 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 the end of October.

TV network CNBC also reported that the following firms were clients of Madoff:  Continued...

 

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