PAAMCO Founders mull options after order to prepare 40% equity certificate for new owner

Wed Nov 3, 2010

As Pacific Alternative Asset Management Company’s holding firm, PAAMCO Founders, prepares the 40% equity certificate that will give Franklin Realty and Franklin Realty Holdings a 40% share of PAAMCO Founders, the founders themselves – Jane Buchan, James Berens, Judith Posnikoff and William Knight – have just found themselves the subject of a formal investigation by the Securities and Exchange Commission.

Jane Buchan

This is the latest repercussion of Judge Richard Sullivan’s ruling in August, where he gave an opinion that their ownership structure was designed to mislead. "Founders strongly disagrees with the judge’s observation that its relationship with Donald Sussman may have been structured to mislead anyone," said PAAMCO Founders in a statement. Ahead of this latest development, PAAMCO’s founders were in the throes of considering their options. Fight the judge’s ruling, or knuckle down and get on with business?

Under the terms of the final judgment...

ISSN: 2151-1845 / CDC10004H

Free Trial

Take a trial today and access

  • Performance news, fund launches, regulation changes and people moves
  • Profiles of fund managers, investors and distributors
  • Live league tables
  • Investor mandates

Popular Searches on HFI