Financial News has compiled a list of financial institutions, individuals and charities that have announced or been reported to have exposure to Madoff Securities.

Who has exposure to Madoff?
Some of the world's largest money managers are facing hundreds of millions of dollars of potential losses after investing in alleged New York fraudster Bernard Madoff. Financial News has compiled a list of financial institutions, individuals and charities that have announced or been reported to have exposure to Madoff Securities.

Asset managers and hedge funds
Man Group - $360m (€266.7m) in two funds Pioneer – indirectly exposed via feeder-funds Fairfield Greenwich Group - $7.5bn Access International Advisers - $1.8bn Tremont Capital - reportedly $1bn (Financial Times) Standard Life – no exposure Aberdeen Asset Management – no exposure Axa - €100m Bramdean Asset Management – 9.5% of AUM as of 31 October FRM Credit Alpha – no exposure RSA Group – no exposure Kingate - $2.5bn EIM Group, Arpad Busson – $230m Friends Provident – no exposure Alliance Trust – no exposure Blue Bay Asset Management – no exposure F&C Asset Mangement – no exposure RAB Capital - $10m Spanish pension schemes - €36m Allianz Global Investors – “not significantly involved” Groupama - €10m ING – no exposure The Town of Fairfield Employees Pension Fund in Connecticut - $40m Massachusetts state pension fund - $12m Spanish investment funds - exposure of €106.9m which is equivalent to 0.05% of the total assets held Maxam Capital Management, Sandra Manzke - $280m Fix Asset Management - $400m account with Madoff (Bloomberg) Shell pension fund - $45m indirect exposure
Investment banks
Crédit Agricole – less than €10m ($13.5m) Nomura - ¥27.5bn (€224m) Credit Suisse – none UniCredit - €75m RBS - £400m (€444.9m) HSBC – $1bn Santander - €2.33bn BNP Paribas - €350m Natixis - €450m Société Générale - €10m BBVA - €300m Nordea - €48m UBS – “limited and insignificant” BarCap –“minimal” exposure Lloyds TSB – no exposure Banco Popolaire - €86m Danske Bank - €10m Deutsche Bank – no significant exposure Aozora Bank – ¥12.4bn Fortis - €1bn Dexia - total exposure of €78m Mediobanca - $671,000 via its Compagnie Monegasque de Banque Banco Espirito Santo - €15m
Private banks
Benedict Hensch - $48m Reichmuth & Co. – Sfr385m (€243.7m) UBP - $850m Neue Privat Bank - $5m St. Galler Kantonalbank's private Hyposwiss bank - $50m Benbassat - $935m of client exposure Mirabaud – less that $13m Other Swiss private banks - $1.6bn (Thomson Reuters quoting Le Temps) UBI Banca - €60.4m Medici Bank of Austria - $2.1bn exposed (AFP)
People
J. Erza Merkin, GMAC chairman - $1.8bn of funds invested (Dow Jones) Mortimer Zuckerman - $30m (New York Daily News) Senator Frank Lautenberg Fred Wilpon, owner of the NY Mets Norman Braman, former owner of the Philadelphia Eagles Carl Shapiro - $545m, includes $145m invested through the Carl & Ruth Shapiro Family Foundation. Leonard Feinstein Alicia Koplowitz, Spanish businesswoman - €10m (El Mundo and Expansion) Ram Bhavnani, Indian-born investor - €2.44m (El Mundo and Expansion) Eliot Spitzer, former governor of New York The Loeb Family (New York Post) The Thyssen Family Avram & Carol Goldberg, founders of Stop & Shop - $30m Robert Jaffe Jerome Fisher, founder of Nine West - $150m Leonard Feinstein, co-founder of retailer Bed Bath & Beyond (WSJ)
Charities
Elie Wiesel Foundation Stephen Spielberg's Wunderkinder Foundation The Robert I. Lappin Charitable Foundation - all $8m of assets invested, has to close (AP) Jewish Community Foundation of Los Angeles - invested a total of $18m, less than 5% of the Foundation's assets North Shore-Long Island Jewish Health System - $5.7m, represents less than 1% of its investment portfolio. Stony Brook University Foundation (through hedge fund Renaissance Technologies) lost $5.4m, 4.5% of an endowment totaling about $120m Gift of Life Bone Marrow Foundation - $1.8m in pledges affected Jewish Federation of Greater Washington - $10m invested, about 8% of its endowment (NYT)
Insurance
Sumitomo Life Insurance - ¥2bn Mitsui Sumitomo Insurance - ¥800m Meiji Yasuda Life Insurance - ¥100m Aioi Insurance - ¥100m Swiss Life – SFr90m in direct exposure Baloise Holding – $13m Helvetia Holding - Indirect exposure "limited" Massachusetts Mutual Life Insurance - Less than $10 m Great Eastern Holdings - S$64m Clal Insurance Enterprises – 55m shekels ($3.1m) CNP Assurances - indirect exposure of €3m Harel Insurance Investments & Financial Services - 55m shekels
Education
Ramaz School - $6m invested with Madoff (NYT) SAR Academy - $3.7m invested (NYT) Yeshiva University - $110m
--Write to lwillington@efinancialnews.com
Tags: UK , US