SEC Fletcher Fund
SEC, Pensions to Investigate Fletcher Asset Management
The Securities and Exchange Commission has opened up an inquiry into another New York hedge fund. The SEC is looking into Alphonse Fletcher Jr.'s Fletcher Asset Management. The investigation comes as three Louisiana pension funds launched their own inquiries into the Fletcher fund after the hedge fund denied requests to withdraw money earlier this year.
News of the S.E.C. inquiry comes as three Louisiana public pension systems publicly raised questions about a Fletcher fund. The three pension systems said on Tuesday that they were hiring a team of experts to closely examine the Fletcher fund’s financial records after it was unable to meet their requests to withdraw money from the fund earlier this year.
Mr. Fletcher, 45, already drew headlines in February when he sued the Dakota apartment building on the West Side of Manhattan, accusing it and several of its board members of racial discrimination for denying his application to buy an apartment adjacent to his.
The Dakota is fighting the lawsuit and said that it rejected Mr. Fletcher’s application because it had serious concerns about his financial resources and suggested that his investment firm “may be seriously troubled.” Source
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