There was an embarrassing incident last week at an investors meeting of Markstone Capital partners Group LLC, according to US newspaper reports.
Several investors reportedly disturbed discussions and called out comments to the fund's managers Ron Lubash, Amir Kess and Dan Gillerman. Sources close to Markstone claim it was only one investor who disrupted the meeting.
But what was especially embarrassing was that former US Secretary of Stare Henry Kissinger, who is a personal friend of former Israel Ambassador to the UN Dan Gillerman, was kept waiting on the stage until the disturbance died down before being able to talk about Middle East Policy and relations with Iran.
The disturbances during the investors meeting revolved around claims about the data presented by the Markstone fund managers. There were complaints that the fund does not publish financial reports on the performances of the companies that it invests in.
Markstone commented, "Reports to investors are in line with rules and acceptable levels of reporting. There are exceptions regarding certain portfolio companies where Markstone is committed not to pass on certain information where giving or leaking that information could harm these competitive capabilities. Markstone respects this commitment, and there is nothing in it which harms the general and accepted reporting by the fund to its investors."
Published by Globes, Israel business news - www.globes-online.com - on October 11, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010
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