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The fund, of course, went bust.
Critics accuse the fund of overreaching.
This does not absolve the fund of mistakes.
Mr Stiglitz accused the fund of fanning the flames by prescribing fiscal austerity and tight money.
Then the fund of funds charges a management fee on top of that.
Greek government officials accuse the fund of torpedoing their economy via tough austerity measures.
Similar(8)
That included the fund-of-funds unit that allocates investors' cash to fund managers.
The ban on the fund-of-funds concept has been lifted.
The fund-of-funds business is one where K.K.R.'s chief rival, the Blackstone Group, has been expanding.
Still, the deal comes at a time when the fund-of-funds business is largely under fire.
The transaction comes as the fund-of-funds industry is under criticism, with investors hesitant to pay extra fees to invest in already-expensive hedge funds.
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