Saturday, April 16, 2005
Get to Ivan Vercoutere for Shopkorn (Albourne Village 4/15/05)
12/04/2005 Prince of Liechtenstein's firm made $6bn from hedge funds
Bloomberg reports, Liechtenstein’s Prince Hans-Adam II made his debut in hedge funds by investing in Long-Term Capital Management LP. LGT Capital Partners, his family firm, put $2.5 billion more into similar funds and has earned $6 billion for investment in buyout firms and hedge funds. Now, LGT is pushing to expand to compete with Man Group Plc and UBS AG. LGT Capital’s hedge-fund business, which reduces risk by spreading its money among multiple funds, helped the firm prosper when Hans-Adam battled parliament for more power and police probed allegations of money laundering in the country of 34,000 people. The political conflict was settled in the prince’s favour two years ago when an intergovernmental anti-money-laundering body ruled that Liechtenstein was in compliance with international reporting regulations.
Bloomberg reports, Liechtenstein’s Prince Hans-Adam II made his debut in hedge funds by investing in Long-Term Capital Management LP. LGT Capital Partners, his family firm, put $2.5 billion more into similar funds and has earned $6 billion for investment in buyout firms and hedge funds. Now, LGT is pushing to expand to compete with Man Group Plc and UBS AG. LGT Capital’s hedge-fund business, which reduces risk by spreading its money among multiple funds, helped the firm prosper when Hans-Adam battled parliament for more power and police probed allegations of money laundering in the country of 34,000 people. The political conflict was settled in the prince’s favour two years ago when an intergovernmental anti-money-laundering body ruled that Liechtenstein was in compliance with international reporting regulations.
# posted by Tom @ 3:00 PM 
