Marinus Capital Closure Said to Be Triggered by Mismarked Trades
- Credit hedge fund shut down in late April after seven-year run
- Former money manager’s lawyer says he’s being ‘scapegoated’
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The shutdown of Najib Canaan’s credit hedge fund Marinus Capital Advisors in late April occurred after an internal investigation determined the value of some of its trades were overstated, according to people with knowledge of the matter.
Canaan reported the activity to the U.S. Securities and Exchange Commission, and told investors he was closing Marinus as a result, said the people, who asked not to be identified discussing internal matters.