{"entity":{"id":11475,"slug":"tremont-group-holdings","name":"Tremont Group Holdings","type":"company","role":"Second-largest BLMIS feeder organization; subsidiary of MassMutual","description":"Rye, New York–based hedge fund of funds. From 1994 a wholly owned subsidiary of MassMutual (Massachusetts Mutual Life Insurance Company). Its Rye Select / Tremont feeder funds were the second-largest single-organization BLMIS feeder, with approximately $3.3 billion of customer money lost in the December 2008 collapse.","imageUrl":null,"createdAt":"2026-04-21T22:23:03.265Z","updatedAt":"2026-05-19T09:34:55.160Z"},"electedOffice":null,"significance":{"score":7,"components":{"totalFindings":0,"connectionDegree":6,"recentFindings90d":0,"activeResearchJobs":0,"goblinAttributions":1,"recentSyntheses90d":0,"moneyFlowChainsTotal":0,"closedLoopMemberships":0,"moneyFlowHopsRecent90d":0},"computedAt":"2026-10-16T01:34:31.424Z"},"facts":[{"id":20611,"text":"On July 28, 2011 Tremont funds and affiliates agreed to a $1.025 billion settlement with the BLMIS SIPA Trustee Irving Picard — at the time the second-largest single recovery in the BLMIS liquidation.","confidence":"secondary","dateOccurred":"2011-07-28","source":{"title":"Tremont Group Holdings — Wikipedia","url":"https://en.wikipedia.org/wiki/Tremont_Group_Holdings","publication":"Wikipedia"}},{"id":20610,"text":"Customer assets at the time of the December 2008 BLMIS collapse: approximately $3.3 billion across the Rye Select and Tremont feeder vehicles — the second-largest single-organization BLMIS exposure.","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":20612,"text":"Wholly owned subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual) following MassMutual's 2001 acquisition of the firm.","confidence":"secondary","dateOccurred":"2001-01-01","source":{"title":"Tremont Group Holdings — Wikipedia","url":"https://en.wikipedia.org/wiki/Tremont_Group_Holdings","publication":"Wikipedia"}},{"id":20613,"text":"Rye, New York–based hedge fund of funds; sponsor of the Rye Select and Tremont feeder vehicles into BLMIS.","confidence":"secondary","dateOccurred":null,"source":{"title":"Tremont Group Holdings — Wikipedia","url":"https://en.wikipedia.org/wiki/Tremont_Group_Holdings","publication":"Wikipedia"}}],"connections":[{"id":17994,"relationshipType":"feeder fund","description":"Tremont was a feeder fund; DiPascali's fabricated annual returns of 10-17% attracted such funds.","confidence":"inferential","firstDocumented":"2009","lastDocumented":null,"other":{"id":11357,"name":"Frank DiPascali","slug":"frank-dipascali","type":"person"}},{"id":18181,"relationshipType":"feeder fund operator","description":"Rye Select Broad Market XL Portfolio Limited was a Cayman Islands–domiciled leveraged BLMIS feeder fund operated within the Tremont/Rye fund complex.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":12689,"name":"Rye Select Broad Market XL Portfolio Limited","slug":"rye-select-broad-market-xl-portfolio-limited","type":"company"}},{"id":18175,"relationshipType":"part_of","description":"Cayman Islands–domiciled BLMIS feeder fund organized within the Tremont/Rye fund complex.","confidence":"primary","firstDocumented":"Unknown","lastDocumented":null,"other":{"id":12688,"name":"Rye Select Broad Market Portfolio Limited","slug":"rye-select-broad-market-portfolio-limited","type":"company"}},{"id":17942,"relationshipType":"feeder_fund_operator","description":"Tremont Group Holdings, through its Rye Select funds, invested over $3 billion with Madoff and was a major feeder fund.","confidence":"primary","firstDocumented":"2008","lastDocumented":null,"other":{"id":11354,"name":"Bernie Madoff","slug":"bernie-madoff","type":"person"}},{"id":19663,"relationshipType":"parent_subsidiary","description":"Tremont Capital Management is the U.S. operating subsidiary of Tremont Group Holdings; together they constituted the second-largest BLMIS feeder organization at the December 2008 collapse.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":12687,"name":"Tremont Capital Management","slug":"tremont-capital-management","type":"company"}},{"id":19592,"relationshipType":"founder_principal","description":"Sandra Manzke co-founded Tremont Partners in 1985 — the predecessor firm to Tremont Capital Management and Tremont Group Holdings — and introduced the firm to Bernard L. Madoff in the 1980s.","confidence":"secondary","firstDocumented":"1985-01-01","lastDocumented":"2005-12-31","other":{"id":12690,"name":"Sandra Manzke","slug":"sandra-manzke","type":"person"}},{"id":19584,"relationshipType":"parent_subsidiary","description":"MassMutual acquired Tremont Group Holdings as a wholly owned subsidiary in 2001, making MassMutual the ultimate parent of one of the largest BLMIS feeder organizations at the time of the December 2008 collapse.","confidence":"secondary","firstDocumented":"2001-01-01","lastDocumented":"2008-12-11","other":{"id":11476,"name":"Massachusetts Mutual Life Insurance Company","slug":"massachusetts-mutual-life-insurance-company","type":"company"}},{"id":18049,"relationshipType":"peer exposure","description":"As the second-largest single-organization BLMIS exposure at $3.3 billion, Tremont Group Holdings was one of the two largest known feeder fund groups into BLMIS alongside Fairfield Greenwich Group.","confidence":"secondary","firstDocumented":"2008","lastDocumented":null,"other":{"id":11471,"name":"Fairfield Greenwich Group","slug":"fairfield-greenwich-group","type":"company"}},{"id":18027,"relationshipType":"affiliation","description":"Tremont Group Holdings was a feeder fund that invested in BLMIS during Mark Madoff's tenure.","confidence":"secondary","firstDocumented":"2008","lastDocumented":null,"other":{"id":11361,"name":"Mark Madoff","slug":"mark-madoff","type":"person"}},{"id":11267,"relationshipType":"corporate_officer","description":"Robert I. Schulman served as chief executive officer of Tremont Group Holdings at the time of the December 2008 BLMIS collapse.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":12691,"name":"Robert I. Schulman","slug":"robert-i-schulman","type":"person"}},{"id":11266,"relationshipType":"founder","description":"Sandra Manzke co-founded Tremont Partners in 1985 — the predecessor firm to Tremont Capital Management and Tremont Group Holdings — and introduced the firm to Bernard L. Madoff in the 1980s.","confidence":"secondary","firstDocumented":"1985-01-01","lastDocumented":"2005-12-31","other":{"id":12690,"name":"Sandra Manzke","slug":"sandra-manzke","type":"person"}},{"id":11224,"relationshipType":"subsidiary","description":"Tremont Capital Management is the U.S. operating subsidiary of Tremont Group Holdings; together they constituted the second-largest BLMIS feeder organization at the December 2008 collapse.","confidence":"secondary","firstDocumented":null,"lastDocumented":"2008-12-11","other":{"id":12687,"name":"Tremont Capital Management","slug":"tremont-capital-management","type":"company"}},{"id":11177,"relationshipType":"subsidiary","description":"MassMutual acquired Tremont Group Holdings as a wholly owned subsidiary in 2001, making MassMutual the ultimate parent of one of the largest BLMIS feeder organizations at the time of the December 2008 collapse.","confidence":"secondary","firstDocumented":"2001-01-01","lastDocumented":"2008-12-11","other":{"id":11476,"name":"Massachusetts Mutual Life Insurance Company","slug":"massachusetts-mutual-life-insurance-company","type":"company"}},{"id":11176,"relationshipType":"settlement","description":"Tremont funds and affiliates agreed a $1.025 billion settlement with the BLMIS SIPA Trustee Irving Picard on July 28, 2011 — at the time the second-largest single recovery in the BLMIS liquidation.","confidence":"secondary","firstDocumented":"2011-07-28","lastDocumented":"2011-07-28","other":{"id":11358,"name":"Irving H. 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