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Hedge fund firm losing pulling power

Reuters – Celebrity financier Arpad Busson has been mulling a sale of EIM, the hedge fund investor he founded in the 1990s, for several months but buyers with pockets as big as the firm’s glossy profile may prove hard to find.

EIM’s assets have fallen to around $6.2 billion, a spokesman told Reuters, less than half their peak level of $14 billion, and the returns from most of its funds are below their high-water mark, the level at which they can levy performance fees.

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