ABN Amro is about to nearly triple its AUM in hedges with the acquisition of International Asset Managememt. Meanwhile, Cerberus Capital Management is suing a Japanese newspaper chain for slander, while, in a different matter, USA Today tries to link the hedge fund to influence peddling with Jerry Lewis (no, not that Jerry Lewis). Finally, could a controversial soccer team deal curse its hedge fund investors? Read on.

Stuart Wise, Senior Editor

BRIEFLY…

• The HFRI Fund of Funds Composite Index was up 1.78% in December and finished the year at 7.33%. Best performer: Strategic Index at 10.26%.
  
  
• Dow Jones has added premium content to its Dow Jones Hedge Fund Strategy Benchmarks.
  
  
• Hedge fund compliance with upcoming Securities and Exchange Commission e-mail retention requirements boosted HF buys of LiveOffice Corp. e-mail archiving system by 70% in the fourth quarter.
  
  
• Private equity was the best performing asset class last quarter at European pension giant PGGM, returning 8%.
  
  
• Mellon Financial has rejected a plan by hedge fund Highfields Capital Management to spin off either its asset management or servicing businesses.
  
  
• Private equity funds raised nearly €500 million (US$604.8 million) in new capital in Bulgaria last year, with an average annual return of 9.5%.