{"entity":{"id":11477,"slug":"kingate-global-fund","name":"Kingate Global Fund","type":"company","role":"Offshore (BVI) BLMIS feeder fund advised by FIM Advisers","description":"British Virgin Islands–domiciled feeder fund advised by FIM Advisers (London) under principals Carlo Grosso and Federico Ceretti. With its sister Kingate Euro Fund, Kingate routed roughly $1.7 billion of customer assets into BLMIS by the time of the December 2008 collapse.","imageUrl":null,"createdAt":"2026-04-21T22:23:03.265Z","updatedAt":"2026-05-19T09:34:55.573Z"},"electedOffice":null,"significance":{"score":4.6,"components":{"totalFindings":0,"connectionDegree":3.6,"recentFindings90d":0,"activeResearchJobs":0,"goblinAttributions":1,"recentSyntheses90d":0,"moneyFlowChainsTotal":0,"closedLoopMemberships":0,"moneyFlowHopsRecent90d":0},"computedAt":"2026-10-16T01:34:31.424Z"},"facts":[{"id":20605,"text":"In 2014 Kingate liquidators reached a settlement with the BLMIS SIPA Trustee Irving Picard, contributing several hundred million dollars to the customer-recovery pool over subsequent years.","confidence":"secondary","dateOccurred":"2014-01-01","source":{"title":"Madoff Recovery Initiative — Recoveries — Office of the SIPA Trustee","url":"https://www.madofftrustee.com/recoveries-04.html","publication":"Baker Hostetler / SIPA Trustee"}},{"id":20606,"text":"British Virgin Islands–domiciled feeder fund advised by FIM Advisers (London), led by principals Carlo Grosso and Federico Ceretti; with its sister Kingate Euro Fund routed roughly $1.7 billion of customer assets into BLMIS by the time of the December 2008 collapse.","confidence":"secondary","dateOccurred":"2008-12-11","source":{"title":"Participants in the Madoff investment scandal — Wikipedia","url":"https://en.wikipedia.org/wiki/Participants_in_the_Madoff_investment_scandal","publication":"Wikipedia"}},{"id":49835,"text":"The settlement proceeds contributed by Kingate liquidators likely flowed into the BLMIS customer recovery pool over several years, not as a single lump sum, because the SIPA trustee typically distributes funds in pro-rata interim distributions to customers as cash becomes available from multiple settlements.","confidence":"secondary","dateOccurred":null,"source":{"title":"Madoff Recovery Initiative — Recoveries — Office of the SIPA Trustee","url":"https://www.madofftrustee.com/recoveries-04.html","publication":"Baker Hostetler / SIPA Trustee"}},{"id":49836,"text":"The exact amount contributed by Kingate—whether 'several hundred million' is accurate—has not been publicly broken out separately in any single public disclosure, as Picard's global recovery reports aggregate all settlement proceeds from feeder funds.","confidence":"secondary","dateOccurred":null,"source":{"title":"Madoff Recovery Initiative — Recoveries — Office of the SIPA Trustee","url":"https://www.madofftrustee.com/recoveries-04.html","publication":"Baker Hostetler / SIPA Trustee"}}],"connections":[{"id":17996,"relationshipType":"feeder fund","description":"Kingate was a feeder fund; DiPascali's fabricated trades supported this fund's investments.","confidence":"inferential","firstDocumented":"2009","lastDocumented":null,"other":{"id":11357,"name":"Frank DiPascali","slug":"frank-dipascali","type":"person"}},{"id":11180,"relationshipType":"settlement","description":"Kingate Global Fund liquidators reached a settlement with the BLMIS SIPA Trustee Irving Picard in 2014, contributing several hundred million dollars to the customer-recovery pool over subsequent years.","confidence":"inferential","firstDocumented":"2014-01-01","lastDocumented":null,"other":{"id":11358,"name":"Irving H. Picard","slug":"irving-h-picard","type":"person"}},{"id":18051,"relationshipType":"Principal","description":"Federico Ceretti was a principal of FIM Advisers (London), which advised the Kingate Global Fund.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":11575,"name":"Federico Ceretti","slug":"federico-ceretti","type":"person"}},{"id":18043,"relationshipType":"managed","description":"Carlo Grosso was co-principal of FIM Advisers (London), which managed the Kingate Madoff feeder structure in the British Virgin Islands.","confidence":"primary","firstDocumented":"unknown","lastDocumented":null,"other":{"id":11574,"name":"Carlo Grosso","slug":"carlo-grosso","type":"person"}},{"id":17941,"relationshipType":"feeder_fund","description":"Kingate Management Limited operated the Kingate Global Fund, which channeled approximately $2.8 billion from investors into Madoff's scheme.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":11354,"name":"Bernie Madoff","slug":"bernie-madoff","type":"person"}},{"id":19590,"relationshipType":"parent_subsidiary","description":"Kingate Management Limited (BVI) was the management vehicle for Kingate Global Fund and Kingate Euro Fund — the BVI-domiciled BLMIS feeders advised by FIM Advisers (London).","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":11572,"name":"Kingate Management Limited","slug":"kingate-management-limited","type":"company"}},{"id":18029,"relationshipType":"affiliation","description":"Kingate Global Fund was a feeder fund that invested in BLMIS during Mark Madoff's time as co-director of operations.","confidence":"secondary","firstDocumented":"2008","lastDocumented":null,"other":{"id":11361,"name":"Mark Madoff","slug":"mark-madoff","type":"person"}},{"id":11185,"relationshipType":"subsidiary","description":"Kingate Management Limited (BVI) was the management vehicle for Kingate Global Fund and Kingate Euro Fund — the BVI-domiciled BLMIS feeders advised by FIM Advisers (London).","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":11572,"name":"Kingate Management Limited","slug":"kingate-management-limited","type":"company"}},{"id":11168,"relationshipType":"feeder_fund","description":"Kingate Global Fund (BVI), advised by FIM Advisers under Carlo Grosso and Federico Ceretti, with its sister Kingate Euro Fund routed roughly $1.7 billion of customer assets into BLMIS by the December 2008 collapse.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":11355,"name":"Bernard L. Madoff Investment Securities","slug":"bernard-l-madoff-investment-securities","type":"company"}}],"contradictions":[],"permalink":"https://www.goblinhouse.net/entity/kingate-global-fund","timelineUrl":"https://www.goblinhouse.net/entity/kingate-global-fund/timeline"}