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Banks Allying With Hedge Funds as Capital Rules Bite


Breezing into a sunlit conference room near London’s Hyde Park Corner wearing an open-collared white shirt that frames his square jaw, Loic Fery exudes the confidence of a soccer club owner who’s enjoyed success on the pitch and with the team’s account ledgers.

FC Lorient, the French soccer club Fery and his family rescued from the brink of bankruptcy in 2009, has under his ownership had some of the best seasons in its 87-year history; for the past four years, it has been the only profitable team in Ligue 1, France’s top league.