SEC Probes PE Fund's Valuation Practices: Report

Law360, New York (February 24, 2012, 8:44 PM ET) -- The U.S. Securities and Exchange Commission and Massachusetts' attorney general are reportedly investigating a private equity fund affiliated with investment firm Oppenheimer Holdings Inc. to determine whether it exaggerated the value of its holdings.

The fund, backed by about $55 million from institutions including retiree organizations at Bradley University and the cities of Quincy, Mass., and Brockton, Mass., may have exaggerated its holdings by more than $4 million in an effort to lure investors in late 2009, an unnamed source told the Wall Street Journal in...
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