Cartesian Capital are SOLID. AIG not so much.Folks, don't believe all these posters trying to take any value from your share positions in Equitas. They will unbury anything just to buy your shares for cheap and churn it for a penny or two. They are not long term shareholders. In it for the cheap gains.
Here is the factual information on the AIG vs Cartesian deal. https://lawsuit-in-which-aig-is-plaintiff.blogspot.ca
AIG was going under and thier clients wanted to leave. Peter Yu was given the pink sheets and paraded through the office with no respect. He brought his team with him and the clients wanted to come along. Since then they have been successful in providing funding, expertise and help to grow companies into large well-known and respected businesses. Cartesian wouldn't do a deal with Equitas if they felt their management couldn't provide the supply and growth needed. GLTA longs, and short term traders may you lose your bankrolls and get squeezed out of all your positions and the market.
AIG Finds Itself In More TroubleOct 17, 2005
David Pinkerton, managing director and head of developed alternative markets for AIG Global Investment Corp., has been indicted by a federal grand jury on charges that he conspired to bribe senior government officials in Azerbaijan. The indictment is just the latest black eye for AIG's private equity operation, and some limited partners are suggesting that it is their final straw.
Revolving door at AIG unit makes some investors dizzy
October 31, 2005
Personnel turnover in AIG’s alternative investment unit is causing some investors to reconsider their relationships with the battered insurance giant’s money management firm. Several pension funds have withdrawn commitments or plan to so do, and consultants suggest that AIG — which only started offering private equity and hedge funds to outside investors in 1996 — may have a tough time raising its next funds.
Investors win in battle with AIG
In rare turn, limited partners get OK to exit fund without paying a heavy price
December 26, 2005
In a fight between giant American International Group Inc. and outside investors in AIG’s Global Emerging Markets Fund II LP, the investors won. That’s all too rare in the private equity world, where even the largest institutional investor appears to be at the mercy of its general partners. But in this case, investors flexed their collective muscle, insisting AIG allow them to exit the fund without being hit with punitive fees and restrictions, according to minutes of AIG internal meetings and other documents obtained by Pensions & Investments.
Worst HR MoveJanuary 3, 2006
AIG, for the way in which it dismissed AIG Capital Partners chief Peter Yu and managing director Bill Jarosz. If you’re going top pink-slip someone important, do it discretely. Don’t fire them, march them out past other employees (without letting them take family photos from their office) and then have an HR rep sound gleeful in announcing the decision. From an overall industry standpoint, just another reason why everyone should be extra-careful about getting involved with a corporate VC group.
AIG Settles Legal BattleFeb 20, 2006
American International Group Inc. (NYSE: AIG) has reached a confidential out-of-court settlement with five former partners whom it had sued earlier this month for breach of contract, breach of fiduciary duty and computer fraud. Sources say that the deal allows the former partners continue building a new firm called Cartesian Capital Group, but requires that they amend fund offering documents and suspend fundraising until the end of April. It also ends any claims the former partners have to vested interest from past AIG funds that they helped manage.