Libya sets up London hedge fund to train financial experts

The Libyan government is backing a new London hedge fund with hundreds of millions of dollars, as the Arab state seeks to diversify its economy away from oil and train a generation of investment professionals in the ways of the financial markets.

FM Capital Partners has been hiring staff at its offices in Knightsbridge, has applied for registration with the Financial Services Authority and plans to launch later in the summer.

The hedge fund will be run by the former Merrill Lynch and Bear Stearns trader Frederic Marino, with a board that includes luminaries from Libyan diplomacy and its sovereign wealth funds…read more

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