October 28, 2005

DePauw U. Sues Investment Advisers

By GOLDIE BLUMENSTYK

DePauw University, an Indiana institution that lost as much as $3.25-million in the September collapse of a Bayou Funds hedge fund, is suing the consultants who recommended the investment.

In a lawsuit filed this month in federal court, DePauw said that the Hennessee Group, a consulting company, failed to "exercise the due diligence that it touted" when it recommended Bayou as an appropriate hedge fund. The lawsuit accuses Hennessee of misleading DePauw about Bayou's investment

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