Duet-Backed Fund’s Bond Trades With H2O Probed by Watchdog
- Belgian regulator looks into trades between H2O, Merit Capital
- Managers at Belgian fund left the firm amid investigation
Lars Windhorst
Photographer: Frank Molter/dpa/picture alliance via Getty ImagesThis article is for subscribers only.
Belgium’s top financial watchdog is investigating a batch of controversial trades linking a local investment fund to H2O Asset Management LLP and bonds sold by financier Lars Windhorst.
The National Bank of Belgium is probing a number of bond repurchase trades that took place between Duet Group’s Merit Capital NV and H2O, a 22-billion euro ($26 billion) asset manager majority-owned by Natixis SA, according to people with knowledge of the matter, who asked not to be named because the details are private.