F-Squared Investments, the largest provider of exchange traded fund managed portfolios, is reportedly looking for a buyer.
Citing Reuters’ PE HUB, Chris Dieterich for Barron’s reported after the close of U.S. markets Wednesday that F-Squared is searching for a suitor.
In December, F-Squared agreed to pay $35 million and admit wrongdoing to settle charges it defrauded investors with false advertising about historical returns for the firm’s flagship ETF strategy, the Securities and Exchange Commission said.
“The SEC separately charged the firm’s co-founder and former CEO Howard Present with making false and misleading statements to investors as the public face of F-Squared,” said the Commission in a statement.