Three years after being accused of sexual assault, removed from an airplane in NYC, and later having the charges dismissed on an alleged out of court settlement, former IMF chief, Dominique Strauss-Kahn (DSK) is planning to leverage his status – as an expert on global finance – as well as his thick rolodex to raise a $2bn hedge fund in Asia. As WSJ reports, the fund, which is awaiting regulatory approval, will “invest based on Dominique’s analyses,” and like most global macro funds will “aim for steady capital returns” with “no leverage.” Ironically, given his new role as hedge fund marketer, DSK faces another case in France on charges of “aggravated pimping.”
A new hedge fund is planning to leverage the status of former International Monetary Fund chief Dominique Strauss-Kahn as an expert on global finances, as well as his thick rolodex, to raise $2 billion, notably in Asia.
The fund, which is awaiting regulatory approval from Luxembourg authorities…
“We will invest based on Dominique’s analyses,” Mr. Leyne said in a telephone interview from Shanghai, where he and Mr. Strauss-Kahn are meeting with potential clients.
The research team of the fund will be headed by Mr. Strauss Kahn’s daughter Vanessa, who holds a Ph.D. in economics from New York University…
The fund, like most global macro funds, will aim for “steady capital returns” with “no leverage.” It will invest in a range of asset classes, including bonds, equities and foreign exchange, LSK chief executive officer Mohamad Zeidan said.
Trust your money with this guy – but not your daughter – whose fund name has already been proposed: Naked Call Capital LLC.
The former IMF chief, who was long seen as a presidential hopeful in France, stepped down from the IMF in May 2011 after a New York hotel maid accused him of sexual assault. Mr. Strauss-Kahn denied the accusations and the case was later dismissed by New York prosecutors.
The former IMF chief and the maid later settled a civil lawsuit out of court for an undisclosed amount.
One other case awaits him in France. Last year, French magistrates sent Mr. Strauss-Kahn to trial on a charge of aggravated pimping as part of an investigation into an alleged prostitution ring. Mr. Strauss-Kahn has said he rejected the aggravated pimping charges, and denied any wrongdoing.
“aggravated pimping” or “hedge fund marketing”?
Interesting that they claim “no leverage” will be used as we assumed the use of “naked calls” was a major part of DSK’s life.