The mystery of Castlepines' billions


The mystery of Castlepines' billions

You have probably never heard of Castlepines Corporation. Yet every year, says its chief executive David Grose, pension funds and insurance companies offer him so many billions of dollars to invest that he can’t place it all. Does that sound too good to be true?

Prof Girish Modi, distinguished head of neurology at Wits University, must be wondering whether he had a brainstorm when he handed over R1.5 million in US dollars to a company called Castlepines in Sydney, Australia.

Castlepines Global Equity, registered in the British Virgin Islands, doesn’t publish its annual accounts for public scrutiny, despite being apparently entrusted with billions of dollars annually – in insurance and pension funds dollars – to invest in massive private and governmental projects around the world. Its associated Castlepines Corporation (Australia) Pty Ltd, is just as reticent.

With a tiny staff – one man in Joburg for Africa and the MidEast, working from home – Castlepines flies so far under the radar that some speculate that it doesn’t even exist.  Certainly, for the press, they’re a bunch of unapproachable, hard-to-tie-down curmudgeons.   

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