Integral Capital Markets suffered heavy losses in recent months on failed investments.
Israeli hedge fund Integral Capital Markets Ltd. is in difficulties, after suffering heavy losses in recent months on failed investments, according to a letter Integral Capital Markets co-CEO Adrian Davidescu sent to investors in the past few days. The company told investors that it had recently concentrated its investments in a limited number of investment channels, one of which had caused it heavy losses.
Capital market sources believe that Integral Capital Markets has about 100 customers, who invested sums averaging several hundred thousand dollars each, and that the hedge fund managed over $25 million.
Integral Capital Markets said in response that it considered itself a foreign fund, not an Israeli one, and that it was not facing collapse. Davidescu said the fund lost money in May, when other funds suffered similar losses.
Published by Globes [online], Israel business news - www.globes.co.il - on July 11, 2006
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