Minnesota Charter School Loses $4.3 Million on Hedge-Fund Bet.

CHARTER schools; PRIVATE equity funds; SCHOOL bonds; HMONG (Asian people)

(Bloomberg) -- The founder and superintendent of a St.Paul, Minnesota, charter school with about $70 million inmunicipal debt resigned a week after the state auditorfound the school lost $4.3 million in an improperhedge-fund investment. Woodstock, the hedge fund, provided a letter to theschool indicating the money would be invested in safer,more liquid instruments such as U.S. Treasuries,according to the school's 2020 financial statement. Hmong College PrepAcademy operates under a charter contract with BethelUniversity, which oversees the school. [Extracted from the article]

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