Telegraph – EIM, the fund-of-hedge funds founded by the flamboyant Arpad Busson, has held merger talks with rival asset managers after suffering a spate of client withdrawals. Mr Busson, better known for his relationships with supermodel Elle Macpherson and actress Uma Thurman, is believed to have held talks to sell the business with a number of asset managers.
Like many other fund-of-funds, EIM has suffered a torrid few years since Bernie Madoff’s Ponzi scheme fraud. The industry, which specialises in picking hedge funds for their clients, suffered an embarrassing reputational setback after several lost money having invested in Madoff.
