Pharo Hedge Fund Returns Saudi Cash After Khashoggi Murder - Bloomberg:
A hedge fund has told investors it returned money to Saudi Arabia following the murder of columnist Jamal Khashoggi, according to people with knowledge of the matter.
The move is a rare rebuke to one of the world’s most influential investors. Pharo Management (UK) LLP in December gave back about $300 million that it had previously managed for the kingdom’s central bank Saudi Arabian Monetary Authority, known as SAMA, one of the people said, asking not to be identified because the information is confidential.
Guillaume Fonkenell, 54, who founded Pharo, told some investors in January that the decision was made to uphold its principles due to concerns about Khashoggi’s death at the hands of government agents last year, the person said.
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