INFOGRAPHIC: RI Ties to Wall St. Exec Arrested for $95M in Fake Investments
GoLocalProv News Team
INFOGRAPHIC: RI Ties to Wall St. Exec Arrested for $95M in Fake Investments
In one of the most high profile enforcement actions by the SEC ever, Wall Street executive Andrew Caspersen was arrested and charged with fraud tied to a scheme that was trying to defraud $95 million from charities. Caspersen’s family and his firm have deep political and financial Rhode Island ties.
Vanity Fair ran a feature story about the death of Finn Caspersen — Andrew’s father — in 2010. The elder Casperson and Andrew’s mother owned a $10 million home in Westerly and were significant donors to Rhode Island politicians and conservative organizations.
The family wrote political checks in the thousands to RI politicos, including Governors Don Carcieri and Gina Raimondo
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTVanity Fair wrote, “It was the shot heard ‘round the world’ for the Wasp Old Guard of New Jersey horse country, the Rhode Island shore, and Jupiter Island, Florida. On Labor Day morning last year, while the rest of the country was wondering whether to spend the final day of summer lying on the beach or firing up the grill, Finn M. W. Caspersen, the immensely wealthy 67-year-old former chairman and C.E.O. of the Beneficial Corporation, had other things on his mind."
RI Pension System's Highest Paid Investment Firms
20
MHR Institutional Partners III
Firm Type: Private Equity
Pension Assets Invested: $20,000,000
Management Fee Rate: 1.75%
Performance Fee Rate: 20%
Management Fees: $243,171
Performance Fees: None
Total Investment Expense: $243,171
19
Oaktree European Principal Fund
Firm Type: Private Equity
Pension Assets Invested: $20,000,000
Management Fee Rate: 1.75%
Performance Fee Rate: 20%
Management Fees: $300,687
Performance Fees: None
Total Investment Expense: $300,687
18
W Capital Partners
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees:$65,790
Performance Fees: None
Total Investment Expense: $65,790
17
Nautic Partners IV
Firm Type: Private Equity
Pension Assets Invested: $20,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $84,442
Performance Fees: None
Total Investment Expense: $84,442
16
W Capital Partners II
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $107,549
Performance Fees: None
Total Investment Expense: $107,549
15
Kayne Anderson Energy Fund IV
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $108,970
Performance Fees: None
Total Investment Expense: $108,970
14
Thomas, McNerney & Partners
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $143,862
Performance Fees: None
Total Investment Expense: $143,862
13
Paladin III
Firm Type: Private Equity
Pension Assets Invested: $10,000,000
Management Fee Rate: 2.00%
Perfomance Fee Rate: 20%
Management Fees: $150,000
Performance Fees: None
Total Investment Expense: $150,000
12
Lighthouse Capital Partners VI
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $210,600
Performance Fees: None
Total Investment Expense: $210,600
11
Thomas, McNerney & Partners II
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $169,053
Performance Fees: $96,512
Total Investment Expense: $265,565
10
Bain Capital Fund X
Firm Type: Private Equity
Pension Assets Invested: $25,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 30%
Management Fees: $361,635
Performance Fees: None
Total Investment Expense: $361,635
9
BlueCrest Capital LP
Firm Type: Hedge Fund
Pension Assets Invested: $20,981,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $419,000
Performance Fees: $0
Total Investment Expense: $419,000
8
Riverside Capital Appreciation Fund VI
Firm Type: Private Equity
Pension Assets Invested: $25,000,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $489,102
Performance Fees: None
Total Investment Expense: $489,102
7
Brevan Howard LP
Firm Type: Hedge Fund
Pension Assets Invested: $77,047,000
Management Fee Rate: 2.00%
Performance Fee Rate: 25%
Management Fees: $1,588,000
Performance Fees: $0
Total Investment Expense: $1,588,000
6
Capula Global Relative Value Fund
Firm Type: Hedge Fund
Pension Assets Invested: $55,791,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $1,097,000
Performance Fees: $1,027,000
Total Investment Expense: $2,124,000
5
Third Point Qualified LP
Firm Type: Hedge Fund
Pension Assets Invested: $0 *
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $1,029,000
Performance Fees: $2,423,000
Total Investment Expense: $3,452,000
NOTE: Figures are end of year figures. The zero here means that money was invested earlier in the year but then withdrawn.
4
OZ Domestic Fund II LP
Firm Type: Hedge Fun
Pension Assets Invested: $98,918,000
Management Fee Rate: 2.00%
Performance Fee Rate: 20%
Management Fees: $1,907,000
Performance Fees: $2,142,000
Total Investment Expense: $4,049,000
3
Point Judith Venture Fund II
Firm Type: Private Equity
Pension Assets Invested: $5,000,000
Management Fee Rate: 2.50%
Performance Fee Rate: 20%
Management Fees: $71,496
Performance Fees: None
Total Investment Expense: $71,496
2
Focus Ventures III
Firm Type: Private Equity
Pension Assets Invested: $15,000,000
Management Fee Rate: 2.50%
Performance Fee Rate: 20%
Management Fees: $263,633
Performance Fees: None
Total Investment Expense: $263,633
1
DE Shaw Composite International Fund
Firm Type: Hedge
Pension Assets Invested: $73,443,000
Management Fee Rate: 2.50
Performance Fee Rate: 25%
Management Fees: $1,725,000
Performance Fees: $2,965,000
Total Investment Expense: $4,690,000
