ADI, France's largest independent hedge fund manager, has gained regulatory approval for a fund of hedge funds joint venture it plans to run with Lombard Odier Darier Hentsch, the Swiss asset manager.

The move makes ADI one of only a handful of firms to offer both single manager hedge funds and funds of hedge funds. The firm has €5bn ($6.5bn) under management in its single manager funds.

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France's ADI expands with Lombard Odier

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