Tremont Group Holdings Inc., a hedge-fund firm owned by OppenheimerFunds Inc., had $3.3 billion invested with Bernard Madoff, according to a person familiar with the matter, Bloomberg reported.
Tremont's Rye Investment Management unit had $3.1 billion, or virtually all its assets, invested with Madoff, said the person, who declined to be identified because the information is private. Tremont had another $200 million invested through its fund of funds group.