Thursday, 30 March 2017
Last updated 5 hours ago
Jul 8 2013 | 10:17am ET
A controversial hedge fund has won some big-name backers for its strategies.
Doyen Capital counts the families of Bayrock Group founder Tevfik Arif and Rixos Hotels CEO Fettah Tamince among its investors, Bloomberg News reports. The ties go deeper than that, as well, with Arif's son serving as a Doyen manager.
Doyen invests in energy trading and other areas, but has received the most attention for its plays on soccer. The firm has struck deals with soccer players, including Brazilian star Neymar, paying them in exchange for a share in their future transfer fees. That has earned it the ire of UEFA, the sport's governing body in Europe, which is concerned that such deals will interfere with the US$3 billion global transfer market. FIFA, the world soccer governing body, is reviewing the practice.
Doyen also invests in soccer players' image rights, and counts Neymar a client in that regard, as well.