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Funds of Hedge Funds Go Local in Emerging Markets
Several managers try to add value to the fund-of-fund calculus by betting money on indigenous players.

Van Biema Value Partners founder Michael van Biema, top, and Lionel Erdely, CIO of alternative investments at Lyxor Asset Management When Michael van Biema, founder of fund-of-funds firm Van Biema Value Partners, started an emerging markets portfolio in Southeast Asia in 2008, his strategem was to find fleet-footed hedge fund managers who can move
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