``Tremont Group Holdings Inc., which lost more than $3 billion in client assets through investments with Ponzi mastermind Bernard Madoff, has reached a deal to auction off the bulk of its remaining hedge-fund assets. In coming weeks, hedge-fund holdings constituting a large portion of several portfolios recently valued at around $420 million will go on the auction block in a process overseen by Duff & Phelps Corp.''

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