In an e-mail, Mr. Tenenbaum stated he had just lately stepped down as director of Matterhorn and Bradfield. He added: “The matter is with the legal professionals. So I can’t remark.”
Final week, the authorities within the Cayman Islands, a British territory within the Caribbean, stated monetary service suppliers there had frozen $7.3 billion in property belonging to Russians who had sanctions imposed on them.
Cayman officers didn’t open up to whom these property belonged, however the islands lengthy have been a hub of operations for offshore funds managed by U.S. hedge funds and personal fairness corporations. Mr. Abramovich is believed to have invested a number of billion {dollars} in hedge funds and real-estate-oriented non-public corporations in america, The New York Occasions has reported.
Harmony Administration, a small funding advisory agency in Tarrytown, N.Y., performed a key position in arranging Mr. Abramovich’s hedge fund and personal fairness investments. The agency stated, nonetheless, that it really helpful funds however didn’t immediately handle cash for shoppers. It’s believed that Harmony, over the previous 20 years, helped prepare investments for Mr. Abramovich in dozens of hedge funds and real-estate-oriented non-public fairness corporations.
The Russia-Ukraine Conflict and the International Financial system
The monetary strain being exerted on him, nonetheless, is just not coming from officers in america. Though British officers have imposed sanctions on Mr. Abramovich, america has not, partially as a result of he has served as an middleman in negotiations between Ukraine and Russia. The actions in Jersey and the Cayman Islands — each British territories — mirror the numerous position such localities play within the administration of oligarchs’ fortunes.
Matterhorn Capital has been linked to Mr. Abramovich for about 20 years, with a company construction indicative of the daisy chain of shell firms that rich Russians have used to masks their possession and complicate efforts by authorities to trace down their property.
Initially integrated within the Cayman Islands in 1999, Matterhorn was reincorporated within the British Virgin Islands in 2002. A yr in the past, Matterhorn was moved once more and integrated in Jersey. Information there present that together with Mr. Tenenbaum, two officers from Zedra, a worldwide company providers agency, additionally served as administrators of Matterhorn. A spokesman for Zedra, which has an workplace in Jersey, declined to remark.
