Telegraph – The London-listed investment house lost a High Court battle to stop the hedge fund managers triggering a legal agreement to be bought out. F&C now faces a total bill, including legal fees, of around £14m – far higher than the £2.4m the group has set aside for the case.
F&C, which is Britain’s fourth biggest fund manager, was the majority owner of a fund of hedge funds group called F&C Partners. The smaller half – with a 40pc stake – was owned by the managers Francois Barthelemy and Anthony Culligan. During the financial crisis on 2008, the group suffered significant outflows, along with many other smaller players in the industry.
