Last Week

• Emerging markets set for record year

  Inflows into global emerging markets funds are set to approach a record $150bn for 2010 as investors look for higher returns, despite increasing warnings of asset bubbles.

• Deutsche names head of new global private markets

  Deutsche Bank Private Wealth Management has named Karim Ghannam as head of its new unit, global private markets, effective January 4. Ghannam will have responsibility for managing the existing real estate and private equity groups and growing the less-liquid asset classes. He joins from Argan Capital Partners where he was most recently a partner, and previously worked at Merrill Lynch and Lehman Brothers specialising in corporate finance transactions. Ghannam will be based in London and will report to Kevin Lecocq.

• FSA and HMT launch Ucits consultation

  The Financial Services Authority and Her Majesty's Treasury have launched a joint consultation on the incoming version of the Ucits fund directive. Fund managers, depositaries and investors have been urged to respond on any area of the directive's detail that they feel are inappropriate or unworkable. Ucits IV is set to take over from the current version in July next year and responses should be submitted by March 21. For more information on the consultation go to http://www.hm-treasury.gov.uk/consult_ucits_iv_directive.htm

• CIO departs giant Danish scheme

  One of Europe's most influential chief investment officers has stepped down from running a multi-billion euro pension scheme to take control of a bank his fund jointly bought out earlier this year.

• Universities scheme plans first seeding fund stake

  The Universities Superannuation Scheme, the largest UK pension scheme after the BT pension scheme, with over £30bn of assets, is looking to invest in a seeding fund for the first time.

• Blackstone raises $15bn fund for buyouts

  Private equity firm the Blackstone Group has raised $15bn for a buyout fund, the largest since the onset of the financial crisis and one of the largest on record, The Wall Street Journal reported. The firm, which has been raising the fund since 2008, had to search worldwide for investor commitments for the fund with 20% of commitments originating from the Middle East, China and East Asia, the report said.

• Gartmore stake helps Henderson manager beat the pack

  As UK-listed asset management group Henderson Group confirmed it was in talks to buy UK rival Gartmore, Henderson turns out to be the home of this week’s top-performing portfolio manager. And what’s more, he has been holding shares in one of Gartmore’s investment trusts.

• Housing hope from 'Dr Doom'

  Nouriel Roubini, the New York economist whose warnings of a housing collapse earned him the nickname "Dr Doom," may be feeling better about the market these days. He just plunked down $5.5m for an East Village penthouse loft, public records show.

• Madoff losers get a big win: $7.2bn

  In a settlement likely to stand as the single largest victory for Bernard Madoff's victims, the widow of a wealthy beneficiary of his Ponzi scheme has agreed to pay $7.2bn to make up for others' losses in the fraud.