although, this is old news, the more recent news is: (Sep 3) Despite turbulent markets in India, New York fund of hedge funds firm RAS Capital Management will increase its long exposure to the country by investing in a long-only equity focused manager at the end of September. April 18, 2008
http://www.finalternatives.com/node/4126
New York- and Mumbai, India-based RAS Capital Management has launched an India-focused arbitrage-only fund of hedge funds.
The RAS India Absolute Return Fund, which debuted in January, is a carve-out of the firm’s flagship multi-strategy fund of funds, RAS India Fund-of Funds, which launched in November 2006. In its first three months of trading, co-founder Robert Rahbari said the new offering is approximately flat.
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