AdultVest, Inc. is an investment management company based in Beverly Hills, California. It was founded in 2005 as an institutional investment company focusing exclusively on vice-related investments. The firm is a former winner of the Hedge Fund Launch of the Year Award. Only accredited investors may invest in the fund; it caters to investors willing to invest more than one million dollars. AdultVest participates in mergers and acquisitions, and operates the only on-line investment community, with over 4,500 registered investors and 1,000 adult entertainment companies seeking investments, mergers, and acquisitions. According to AdultVest, the adult entertainment industry is worth more than $12 billion. Studies in 2001 put the total (including video, pay-per-view, Internet and magazines) between $2.6 billion and $3.9 billion.
In 2008, several months after receiving Institutional Investor's Hedge Fund Launch of the Year Award, the firm was falsely accused of mis-allocation of company funds. The SEC was invited to conduct a full audit of all financial records. Following its audit, the Securities and Exchange Commission determined that all funds were correctly accounted for, and AdultVest and its management team were exonerated. The firm was sold in November 2009 to a private investor.
Famous quotes containing the words adult and/or vest:
“The cohort that made up the population boom is now grown up; many are in fact middle- aged. They are one reason for the enormous current interest in such topics as child rearing and families. The articulate and highly educated children of the baby boom form a huge, literate market for books on various issues in parenting and child rearing, and, as time goes on, adult development, divorce, midlife crisis, old age, and of course, death.”
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