H2O AM hit by record fine over Windhorst-linked investments

Valeria Martinez
clock • 2 min read

France's financial watchdog has fined H2O Asset Management and two of its managers close to €100m in total for several breaches relating to investments in illiquid debt linked to controversial German financier Lars Windhorst. The Autorité des Marchés Financiers said the firm would be fined €75m, while co-founder Bruno Crastes and chief investment officer Vincent Chailley will need to pay €15m and €3m euros respectively, adding the decision could still be appealed. H2O first came under scrutiny from the market and regulatory bodies in 2019 over its investments in illiquid bonds issued ...

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