Mauritius Suspends Quantum Funds After Angola Official Visit
- Seven funds invested cash from Angola’s sovereign-wealth fund
- Suspension follows visit by Angolan official, one person says
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The seven Quantum Global Group funds that had their licenses suspended by Mauritius’s financial-services regulator followed presentations made by a high-ranking Angolan official to the Mauritian government, according to two people familiar with the matter.
Quantum Global Group was founded by Jean-Claude Bastos de Morais, a Swiss-Angolan entrepreneur. Swiss newspaper Le Matin Dimanche reported Nov. 5 that about $3 billion of Angola’s wealth fund, known by the acronym FSDEA, were invested in seven investment funds in Mauritius managed by a unit of Quantum.