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September 08, 2006
Moody's Rating on Hedge Funds
Moody's Investors Service has published its first public rating of an individual hedge fund's risk. In the wake of some public scanadals at hedge fund firm like Bayou Management LLC and Wood River Capital Management LLC, Moody's new rating serves to shine some light on an industry that has been loosely regulated by the government despite its rapid growth in recent years.
New York-based Sorin Capital Management LLC became the first hedge fund to receive a rating under Moody's newly developed system. The fund received a rating just one notch short of Moody's highest "operational quality" rating based on the fund's back office administration.
My previous post titled "Tax Crackdown on Hedge Fund Activities" provides in-depth information on tax crackdown on hedge fund activities.
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