FrontPoint Partners
http://dbpedia.org/resource/FrontPoint_Partners an entity of type: Thing
FrontPoint Partners was a hedge fund that became well known for its bet against subprime mortgages during the 2008 financial crisis under Steve Eisman. It was based in Greenwich, Connecticut, with other offices in New York and London.
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FrontPoint Partners
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FrontPoint Partners
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FrontPoint Partners
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November 2000
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FrontPoint Partners was a hedge fund that became well known for its bet against subprime mortgages during the 2008 financial crisis under Steve Eisman. It was based in Greenwich, Connecticut, with other offices in New York and London. FrontPoint was a registered investment adviser in the United States and was wholly owned subsidiary of investment bank Morgan Stanley. After Eisman left the firm, there was an investigation around insider trading. In August 2011 Frontpoint portfolio manager Chip Skowron pleaded guilty to insider trading and obstruction of justice. The remaining fund saw a significant decline in assets under management. It shut down most of its investments in 2011. Morgan Stanley filed a civil lawsuit against Skowron in 2012, calling Skowron a “faithless servant”. In 2013 Judge Shira Scheindlin of the U.S District Court of the Southern District of New York ruled on a motion for summary judgment that Skowron must forfeit $31 million—100% of the compensation he earned from the firm between 2007 and 2010—to his employer, Morgan Stanley.
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