Hedge Funds

Dreier fraud takes in Blackstone’s GSO Capital, Amaranth, Perella Weinberg


The $400 million fraud allegedly committed by New York lawyer Marc Dreier included Blackstone Group’s GSO Capital Partners, the now-defunct Amaranth Partners and Perella Weinberg Partners’ Xerion Fund, according to U.S. prosecutors.

In all, court documents filed on February 9 name twenty victims of the alleged fraud, including funds managed by Eton Park Asset Management, Elliot Associates, Fortress Investment Group, Novator, Concordia Advisors/Concordia Partners, Context Capital Management and Verition Fund Management. Eton Park and Elliot, among other firms, had already told investors they lost money to Dreier.

Fund manager Nick Maounis got hit twice, according to court documents