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Money managers under the microscope

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Hedge fund stories from the past 24 hours from Reuters and elsewhere:

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Blackstone backs Asia-focused hedge fund – FT

 

Galleon managers in Asia eye fund buyout - Reuters

 

ECB warns EU plans could prompt exodus – Reuters

 

Polygon’s Correa plans Asia hedge fund - Bloomberg

Guard dog shows teeth

You’ve got to hand it to Cerberus.

While we dutifully write stories about a new beginning for the hedge fund industry, marked by transparency at levels never seen before and fund structures designed to satisfy those burned by the credit crisis, the firm named after the guard dog at the gates of Hades comes up with its own tactic — lock up investor money for three years.

You might think that this is the last thing investors want, but it has a curious logic.

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