Merrill platform aims to raise $4bn for funds

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Hedge funds seeking to raise assets will be clambering to get onto the new Merrill Lynch private client platform, which last month raised an impressive $375 million for the fourteen managers that are already on the platform including Och Zif, Gabelli, York, Clinton and Advent.

Signs that the platform is starting to gain momentum comes as Merrill Lynch considers getting back into the third-party marketing of funds, which the bank pulled out of after the LTCM debacle in 1998. The bank had marketed LTCM.

The twin moves to tap into Merrill's strong distribution network and sales skills, signals a determination