Ascot Partners is a

hedge fund A hedge fund is a pooled investment fund that trades in relatively liquid assets and is able to make extensive use of more complex trading, portfolio-construction, and risk management techniques in an attempt to improve performance, such as ...

that was a

feeder fund A feeder fund is an investment fund which does almost all of its investments through a ''master fund'' via a master-feeder relationship. It is a situation similar to a fund of funds A "fund of funds" (FOF) is an investment strategy of holding a ...

Bernie Madoff Bernard Lawrence Madoff ( ; April 29, 1938April 14, 2021) was an American fraudster and financier who was the admitted mastermind of the largest Ponzi scheme in history, worth about $64.8 billion. He was at one time chairman of the NASDAQ ...

. It is headed by money manager and financier J. Ezra Merkin as general partner. It was managed by Gabriel Capital Corporation, of which Merkin was chairman. Among its investors were

Yeshiva University Yeshiva University is a private Orthodox Jewish university with four campuses in New York City."About YU
on the Yeshiva Universi ...

and

New York University New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then- Secretary of the Treasury Albert Gallatin. In 1832, ...

. The hedge fund lost $1.8 billion in the Bernie Madoff

Ponzi scheme A Ponzi scheme (, ) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. Named after Italian businessman Charles Ponzi, the scheme leads victims to believe that profits are comi ...

References

{{Madoff investment scandal Madoff investment scandal

See also

References