National Business Review – Hedge fund managers are the last people you’d expect new Prime Minister John Key to offend, considering he is a former investment banker wealthy enough ($50 million) to make NBR’s Rich List.

But it appears we should expect the unexpected with Mr Key, and incurring the wrath of fellow super-wealthy investors is no exception to that rule.

While in Peru for the Apec meeting, Mr Key made a comment that appears to have ruffled some feathers in the New Zealand Absolute Return Association, which represents local hedge fund managers.

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Tags: abuse-act, biannual-survey, chief-executive, housing-market, merrill-lynch, orient-express, sers, top-picks

Daily Telegraph – Cerberus, the American hedge fund, has sold its stake in Merchant Equity Partners, the owner of the MFI furniture chain, to Hilco and Goldman Sachs.

The secretive investment firm was one of the original backers of MEP but is understood to have sold its stake in the furniture chain’s owner several months ago. It is believed that its stake was split between Goldman and Hilco, the turnaround specialist, both of which were existing MEP backers.

MEP was launched by Henry Jackson, a former investment banker, and has made two acquisitions in the furniture retail sector.

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Tags: citigroup, financial-regulator, more-than-five-years, multibillion-dollar, orient-express, raanan-agus, sophia