FRM, a fund of hedge funds manager with $13bn (€11bn) under management, believes its strategic link with Sumitomo Trust and Banking could provide a template for its further growth.

The Japanese bank has taken a 2.5% stake in FRM for an undisclosed sum and has the option to increase it to 10%.

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Pedro Guazo, who joins in August, will also oversee the $1.3tn asset manager’s responsible investment platform globally

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Sumitomo takes stake in $13bn fund

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