BlueCrest Capital Fair Fund
The United States Securities and Exchange Commission (“SEC” or “Commission”) established a Fair Fund (the "BlueCrest Capital Fair Fund") in its proceeding against BlueCrest Capital Management Limited (“BlueCrest Capital”) described below, to compensate U.S. Investors (“U.S. Investors”) for management fees paid in connection with investments in BlueCrest Capital International Master Fund Limited’s two unregistered feeder funds, BlueCrest Capital International Limited and BlueCrest Capital L.P., between October 1, 2011 and December 31, 2015, inclusive (the “Relevant Period”).
On December 8, 2020, the Commission issued an Order instituting Administrative and Cease-and-Desist Proceedings (the "Order") against BlueCrest Capital Management Limited ("the Respondent"). The proceedings arose from the Respondent’s management of a proprietary hedge fund, BSMA Limited (“BSMA”). In the Order, the Commission found that, from October 2011 through December 2015, BlueCrest Capital engaged in a course of conduct stemming from its management of BSMA that was detrimental to investors in BlueCrest Capital's flagship client hedge fund, BlueCrest Capital International Master Fund Limited. The Commission ordered BlueCrest Capital to pay $107,560,200 in disgorgement, $25,154,306 in prejudgment interest, and a $37,285,494 civil money penalty, for a total of $170,000,000, to the Commission. The Commission created the BlueCrest Capital Fair Fund pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalty paid, along with the disgorgement and interest paid, can be distributed to harmed investors.
On June 3, 2021, the Commission appointed Kurtzman Carson Consultants, LLC, as the fund administrator for the BlueCrest Capital Fair Fund.
On February 18, 2022, the Commission approved a Plan of Distribution for the BlueCrest Capital Fair Fund (the "Plan").
In May of 2022, in accordance with the Plan (publicly available through the "Documents" tab of this website), the Fund Administrator mailed Plan Notices to Preliminary Claimants, as that term is defined in the Plan.