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SUBJECT:
The "real" reason ivy is closing down...
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FROM:
A
abusch@rosemontseneca.com
DATE:
2010-04-01 19:31:20
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<7e2cb1cbef90fa78b56d18499d8740b7@mail.gmail.com>
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TO:
E
Eric Schwerin
<eschwerin@rosemontseneca.com>
H
Hunter Biden
<hbiden@rosemontseneca.com>
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Ivy Asset Management, which BNY Mellon Asset Management is closing, is under investigation for advice it allegedly gave related to investing with Bernard Madoff, according to a person familiar with the matter. New York Attorney General Andrew Cuomo's office has been investigating Ivy, a fund manager that places money with hedge funds, for about a year, and the investigation has come to a head in recent weeks, the person said. At issue among other things is whether Ivy failed to relay concerns it had about Mr. Madoff's firm. Arlene Busch 202-333-1880 abusch@rosemontseneca.co
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