Hedge Fund Solo Capital Partners to Close Amid Reports of Probeby
Hedge fund Solo Capital Partners LLP is to be closed down, according to a statement on the firm’s website, amid reports of a probe into its activities by Danish prosecutors.
Solo Capital is in “the process of an orderly wind-down and isn’t taking on any new business,” the London-based fund said on its website, without giving further details.
Denmark’s Serious Fraud Office is investigating whether about 6.2 billion kroner ($880 million) in withholding tax refunds were fraudulently claimed by a network of foreign companies on nonexistent shareholdings, according to Aug. 25 statement from the Customs and Tax Administration (SKAT).
Solo Capital Partners was named as one of the firms being probed by the country’s prosecutors by The Wall Street Journal, in a report earlier this month. None of the accused companies or individuals have so far been named by Danish authorities.
No one was immediately available to comment at the firm’s London office.