Louis Reijtenbagh

Louis Reijtenbagh
Born July 18, 1946
Den Ham
Alma mater Radboud University Nijmegen (the Netherlands)
Occupation Founder and chief executive officer of The Plaza Group

Louis Reijtenbagh (born July 18, 1946) is a Dutch businessman and investor, as well as a retired general practitioner.[1][2] He is the founder and chief executive officer of The Plaza Group (“Plaza”), a family office exclusively formed to manage the capital of its founder and his direct family members.[3]

Early Life and Career

Reijtenbagh was born in Den Ham, Overijssel.[4][5] He graduated from the Radboud University in Nijmegen, formerly Catholic University Nijmegen (the Netherlands), in 1975 with a degree in general medicine.[6][7] Reijtenbagh was awarded a scholarship under the Fulbright Program to study cardiology at Northwestern University in Chicago. During his studies Reijtenbagh voluntarily worked for the Acworth Leprosy Hospital in Mumbai. Reijtenbagh ran a general care practice in Almelo, Overijssel, from 1975 until 1990.[6]

Reijtenbagh has always had an interest in the financial markets. From his days as a student he has been actively involved and his investments have primarily focused on global macro and discretionary long/short investing. He founded Plaza in 1985 in the Netherlands to invest across various asset classes.[1] Reijtenbagh manages all activities since 1995 from Plaza’s headquarters in Monaco.[8] The firm is independent and opportunistic striving to achieve strong overall returns across various asset classes.[9]

Personal life

Reijtenbagh moved from the Netherlands to Monaco in 1995.[5] He is married and has two sons.[10][11]

Art Collector

Reijtenbagh is an avid art collector whose collection includes and has included works by Rembrandt van Rijn, Vincent van Gogh, Pablo Picasso, Claude Monet, Kees van Dongen, Giorgio de Chirico, Edgar Degas and Pierre Bonnard, among others.[12][13] In September 2008, Reijtenbagh sold a famous work of art - Gerrit Adriaensz Berckheyde’s “The bend in the Herengracht” - to the Rijksmuseum in Amsterdam for an undisclosed sum.[14] The work was previously displayed at the National Gallery of Art in Washington, D.C.[14] In 2009, 29 paintings from the collection were seized by New York City deputy sheriffs acting under a court order to collect unpaid debts.[11]

Controversy

In March 2009, Credit Suisse’s Strategic Partners investment advisory group sued Reijtenbagh for breach of a credit agreement, alleging amongst others fraudulent misrepresentation and improper transfer of assets by Reijtenbagh and others.[15][16] Reijtenbagh and Credit Suisse Strategic Partners settled the matter two months later in May 2009.[15]

In April 2009, JPMorgan Chase sued Reijtenbagh alleging Reijtenbagh defaulted on his obligations under a credit agreement as a result of the lawsuit filed by Credit Suisse Strategic Partners.[1] The litigation was based on a material adverse change (MAC) in circumstances.[17] Reijtenbagh reached a settlement with JP Morgan Chase in September 2009, after sheriffs raided his apartment in New York and confiscated 29 works of art.[18][19][20]

References

  1. 1 2 3 Nathan Vardi (March 25, 2009). "Credit Suisse Says Investor Stole Hundreds Of Millions From Funds Unit". Forbes.
  2. ↑ Andrew Main (September 15, 2010). "Jodee Rich calls off case against Packer, Murdoch". The Australian.
  3. ↑ Andrew Main (November 13, 2014). "One.Tel payout set to hit $50m". The Australian.
  4. ↑ Lucette ter Borg, 'A dangerous man': the rise and fall of Louis Reijtenbagh, NRC Handelsblad, 4 May 2009
  5. 1 2 "Schedule 13G Activision, Inc.". U.S. Securities and Exchange Commission. May 13, 1999.
  6. 1 2 "Big Sky Energy Corporation". U.S. Securities and Exchange Commission. November 23, 2005.
  7. ↑ Willem Hooglugt (February 2, 2012). "From Catholic University Nijmegen to Radboud University Nijmegen" (PDF). Radboud University Nijmegen.
  8. ↑ "Temporary Form D Grand Prix Associates Inc.". U.S. Securities and Exchange Commission. November 20, 2008.
  9. ↑ "Plaza". The Plaza Group. Retrieved December 26, 2014.
  10. ↑ Eileen Kinsella (May 12, 2009). "Disputed Berckheyde Painting Returned to Rijksmuseum". ARTnews.
  11. 1 2 Nathan Vardi (May 7, 2009). "Dr. Debt". Forbes.
  12. ↑ Martha Graybow (April 3, 2009). "JPMorgan sues Dutch investor Reijtenbagh over loan". Reuters.
  13. ↑ Lindsay Pollock and Scott Reyburn (October 21, 2009). "Financier to Auction $40 Million Paintings: Art Buzz". Bloomberg News.
  14. 1 2 Didier Rykner (May 29, 2009). "A view of Amsterdam by Gerrit Berckheyde acquired by the Rijksmuseum". The Art Tribune.
  15. 1 2 Martijn van der Starre and Patricia Hurtado (May 4, 2009). "Credit Suisse, Reijtenbagh Settle Loan-Fraud Lawsuit". Bloomberg News.
  16. ↑ Patricia Hurtado (May 26, 2009). "Credit Suisse Wins Freeze of Reijtenbagh’s Assets". Bloomberg News.
  17. ↑ Martha Graybow (April 3, 2009). "JPMorgan sues Dutch investor Reijtenbagh over loan". Reuters.
  18. ↑ Reed Stevenson (September 28, 2009). "JPMorgan drops claims to Reijtenbagh art -report". Reuters.
  19. ↑ Martijd van der Starre (September 28, 2009). "Reijtenbaghs, JPMorgan Settle Lawsuit Over Loan Default, Art". Bloomberg News.
  20. ↑ Michael West, Dutchman set for record profit from a legal action, The Sydney Morning Herald, 5 November 2012.
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