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US based hedge fund Och-Ziff halts India funding

Economic Times – Och-Ziff, the $30-billion New York-based hedge fund, has frozen secondary market stock investments in India due to soaring compliance costs and muddled tax policies, four people familiar with the development said.

Sumit Choudhary, the Hong Kong-based managing director of the firm who was overseeing India investments, recently left the company as it has ‘nearly shut its India desk’ said one of the persons familiar with the fund’s operations but who did not want to be identified.

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