Former Bear Stearns Cos. executive Frederic Marino started an $800 million hedge fund with the backing of Muammar Qaddafi’s government. Now his plan to attract new investors is being threatened by fighting in the streets of the Libyan capital of Tripoli.
London-based FM Capital Partners Ltd., founded in 2009 with financing from a Libyan sovereign wealth fund, was preparing to raise money from other outside investors this year for the first time, according to two people briefed on the plans who declined to be identified because the firm is private. Those plans may have to be postponed after governments froze Qaddafi’s assets and global leaders rebuked his violent crackdown on dissidents, hedge-fund industry consultants said.
