Singapore Hedge Fund

Alternative asset management in Singapore

US authorities are probing NIR Group hedge fund based in US/Singapore says WSJ

Reuters has reported that, according to the Wall Street Journal, the U.S. authorities are probing whether Corey Ribotsky, Managing Member of NIR Group, a New York & Singapore based hedge-fund, defrauded investors about their returns and the holdings of his various funds, citing people familiar with the matter.

The people told the paper that prosecutors from the U.S. Securities and Exchange Commission, Federal Bureau of Investigation and the U.S. attorney’s office in Brooklyn are looking at whether Ribotsky lied to investors as stock prices fell during the credit crisis. The paper said the authorities have not accused Ribotsky of wrongdoing. Ribiotsky has said he has $770 million under management.

Ribotsky’s lawyer declined to comment to the paper, saying the hedge fund manager and NIR “have no knowledge of any criminal investigation and have not been contacted by any authorities.”  Spokesmen for the SEC, FBI and U.S. attorney’s office declined to comment to the paper.

Reuters

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NIR Hires Superfunder To Head New Singapore Office

NIR Group LLC, a Roslyn, New York-based hedge fund, has hired Shoham Cohen of Superfund Group to head its new Singapore office.

This will be the firm’s first office overseas. Cohen will report to managing member Corey Ribotsky in New York and help the firm identify strategic investment partners in Asia, particularly in Singapore, Hong Kong, and Japan.

NIR manages a variety of strategies including direct equity investments, commodities, structured finance, and real estate.

While at Superfund Group, Cohen was responsible for business development and expansion in the region. Prior to that, he was director at Innovation Fund, a fund of hedge funds.

From Dow Jones

Jean Viry-Babel
senior partner
VBK partners

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