Flowering Tree Grows Hedge Fund Fivefold From May Start, Outperforms Peers Flowering Tree Investment Management Pte, set up by the co-founder of New York-based Sansar Capital Management LLC, has grown its Asian equities hedge fund more than fivefold as it outperformed peers.

Eaton Vance’s Cirami Wins Greek Bet Five Years After Buying Credit Swaps Michael Cirami, co-manager of the $2.2 billion Eaton Vance Global Macro Absolute Return Fund, waited five years for investors to realize that insurance on Greek government bonds was too cheap.

Merkel Berates Brown Over Hedge-Fund Regulations, Slams France on Exports Chancellor Angela Merkel criticized France and the U.K., saying Germany’s response to the recession was better, and cautioned against “hasty” decisions on aid for Greece.

Morgan Stanley’s Investa May Allow Exit From its Frozen Funds in 18 Months Investa Property Group, an Australian real estate firm owned by Morgan Stanley, said it aims to open its frozen unlisted funds to redemptions in 12 months to 18 months.

Gross Raises Pimco’s Non-U.S. Developed Debt Holdings to Most Since 2004 Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., increased holdings of bonds from non-U.S. developed nations for a fourth month, taking them to the highest level since May 2004.

BlackRock Jumps by Most in Five Months After Credit Suisse Upgrades Stock BlackRock Inc., the world’s biggest asset manager, rose the most in five months after analysts at Credit Suisse Group AG raised their recommendation on the shares, saying they expect investor deposits to drive higher earnings.

UBI Pramerica Buys Italian Government Debt, Shuns Greece for Safer Returns UBI Pramerica SGR SpA, which oversees 22 billion euros ($30.3 billion) in fixed-income assets, is buying Italian government bonds after selling most of its Greek debt holdings as it seeks lower-risk returns.

Dutch Pension Fund ABP Sues Bank of America Over Merrill Lynch Loss Claims Stichting Pensioenfonds ABP, Europe’s second-biggest pension plan, sued Bank of America Corp. over claims the bank failed to disclose billions of dollars in losses at Merrill Lynch & Co. before shareholders voted on a takeover of the lender in 2008.

Kenedix to Invest $332 Million Via Two Japan Property Funds as Values Fall Kenedix Inc., Japan’s biggest publicly traded real estate asset manager, said it will invest 30 billion yen ($332 million) in Japanese properties this year through two new funds, to take advantage of price declines.

KBC Groep Said to Hire Pradeepkumar to Run Indian Fund Management Venture KBC Groep NV, Belgium’s biggest bank by market value, is said to have hired G. Pradeepkumar as chief executive officer for its Indian fund management venture, two people familiar with the matter said.