ARM asset bidders include $60bn hedge fund

In a letter sent to investors in the stricken fund, the ARM board said the bidders had until 27 April to table an offer. Interested parties are said to include "a specialist in the management of sophisticated and alternative assets, already operating a life settlement fund, and a hedge fund which currently has more than $60bn under management." Life settlement specialist Insetco, whose previous bid lapsed in December, is also preparing to table an offer, along with Life Settlement Consulting Limited. The board warned bondholders of speculating on the identities of the two bidders, ...