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Alphonse "Buddy" Fletcher, Jr. (born December 19, 1965) is a former hedge fund manager and founder of the Fletcher Foundation. His fund is in bankruptcy, and he is accused of civil fraud. He began his career as a quantitative equity trader at Bear Stearns and later worked at Kidder, Peabody & Co. Fletcher, who is African American, sued Kidder Peabody for racial discrimination. Although his racial discrimination claims were dismissed, he eventually won an arbitration award of US$1.26 million. Fletcher has also been involved in litigation centered on a dispute with the board of The Dakota apartment building in New York City. Fletcher founded Fletcher Asset Management in 1991. His main fund, Fletcher International, may have been insolvent since 2008 and was declared bankrupt in 2012. Money from the fund was used to finance his brother's movie project, according to the bankruptcy court trustee.