News

A limousine-driver-turned-hedge-fund-fraudster has admitted to swindling investors out of almost $20 million.

“There is no reason to assume AHL is broken,” Merrill Lynch told its clients. “Our view is that the current behavior of AHL is relatively typical of the strategy in a trendless market.”

The greenback remains their favored currency by a wide margin, according to a new survey.

European Commission President Jose Manuel Barroso told the European Parliament that that new “reflection” is needed on sovereign CDS.

New York-based hedge fund Atlantic Investment Management has launched a new Asia-focused hedge fund.

Legal & General Investment Management’s multi-manager range has made its first investment in a hedge fund.

Private equity firm Apollo Management will buy Citigroup’s real estate investment business. The New York-based firm signed a letter of intent to acquire Citi Property Investors, which has $3.5 billion in assets.

The deal, which is expected to close within three months, will more than triple Apollo’s real-estate assets.

Teun Johnston has been named a portfolio manager at Oakley Alternative Investment Management, where he’ll work to develop the firm’s investment function and business.

Christopher Vokes was named vice president at the private equity specialist.

Hedge fund founder Jonathan Zaffino has joined insurance broker Marsh.