Incorrect Cite to Article Involving Philadelphia Alternative Asset Management Co. in Article on Pacific Alternative Asset Management Company

Last week's issue of the Hedge Fund Law Report included an article titled “District Court Requires Fund of Funds Manager PAAMCO to Pay 40 Percent of Annual Net Profits to Seed Investor.”  For a brief time following publication, that article contained a hyperlink to a prior article from the HFLR titled “Ex-Hedge Fund Manager Ordered to Pay Nearly $300 Million for Defrauding Clients.”  However, the first article – the one from last week’s issue – involved Pacific Alternative Asset Management Company, the independent fund of hedge funds firm, while the second article – the one involving a payment of $300 million to defrauded clients by an ex-hedge fund manager – involved Philadelphia Alternative Asset Management Co., a company that is separate from and not related to Pacific Alternative Asset Management Company.

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