Hedge Funds

Libyan uprising derails plans for FM Capital to roll out fund suite

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Plans for FM Capital Partners, the London-based hedge fund and financial services group backed by a Libyan sovereign wealth fund, to attract outside investor capital to its suite of hedge fund strategies have been cast under a cloud by the dramatic events in Libya.

FM Capital, which was launched last year by former Bear Stearns and Merrill Lynch executive Frederic Marino and is majority-owned by its Libyan state-controlled backer, is an alternative asset manager as well as providing an educational financial markets training ground for Libyan nationals. It also has an arm devoted to financial services in Africa.