Pasifik GYO denies involvement in fund investigation

Pasifik Gayrimenkul Yatırım İnşaat A. Ş. (Pasifik GYO) has issued a statement denying any connection to problematic funds currently under investigation by the Istanbul Chief Public Prosecutor's Office. The company's response follows the lifting of asset restrictions on several companies and funds by the Capital Markets Board.

Pasifik GYO, where Fatih Erdoğan serves as Chairman, stated that neither the group, its companies, its partners, nor its board members have acquired shares or engaged in trading involving the funds in question. The company described its inclusion on the list of responsible legal entities as something that “could not be understood at all.”

The company further clarified that financial transactions involving closed-end funds were merely asset transfers between its own accounts. Pasifik GYO announced it has applied for the return of relevant shares and the liquidation of the funds, and warned it would pursue legal action against those spreading misleading information.